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Kotak Mahindra Bank net profit up 27% in Q4

Tuesday, May 1, 2018
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Kotak Mahindra Bank on Monday reported a 27 per cent rise in its consolidated net profit to Rs 1,789.24 crore in the quarter ended March 31, 2018 as compared to Rs 1,404.34 crore in the year-ago period.

Its total income, on consolidated basis, was at Rs 10,874.12 crore in the three months ending March, up by nine per cent from Rs 9,953.57 crore in the year-ago period.

The lender posted a 26 per cent growth in its consolidated net profit at Rs 6,201 crore in 2017-18 (FY 18) from Rs 4,940 crore in FY17.

Its gross NPA (non-performing assets), as on March 31, 2018, was at Rs 4,071 crore, as against Rs 3,803.92 crore year-ago.

The bank said its net NPA was at Rs 1,768.6 crore at the end of FY18, down by 2.5 per cent from Rs 1,814.23 crore year-ago.

Its gross NPA, as a percentage of total advances, reduced to 1.95 per cent at the end of FY18 from 2.25 per cent as on March 31, 2017.

Capital adequacy ratio (CAR) as per Basel III, as on March 31, 2018 was 18.4 per cent.

On a standalone basis, its profit after tax for FY18 increased to Rs 4,084 crore, up by 20 per cent from Rs 3,411 crore in FY17 and in the fourth quarter, the standalone net profit increased by 15 per cent to Rs 1,124 crore from Rs 976 crore in corresponding period previous fiscal.

The bank's board of directors recommended dividend of Rs 0.7 per share.

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Source: IANS
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