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Kotak Mahindra Bank has posted a 29 per cent jump in net profit for the fourth and last quarter ended March 31, 2015 at Rs. 527 crore against Rs. 407 crore in the three-month period a year ago.
Total income has increased 27 per cent to Rs. 3,249 crore during the quarter from Rs. 2,553 crore during the quarter ended March 31, 2014.
The board has approved the issue of bonus shares in the ratio of 1 equity share for every 1 share held subject to the approval of the shareholders at its annual general meeting.
The board has also recommended a dividend of Re 0.90 per share.
On a consolidated basis, Kotak group has posted a 38 per cent rise in profit after tax of Rs. 913 crore for Q4FY15 compared with Rs. 663 crore in Q4FY14.
Total income has increased 27 per cent to Rs. 3,249 crore during the quarter from Rs. 2,553 crore during the quarter ended March 31, 2014.
The board has approved the issue of bonus shares in the ratio of 1 equity share for every 1 share held subject to the approval of the shareholders at its annual general meeting.
The board has also recommended a dividend of Re 0.90 per share.
On a consolidated basis, Kotak group has posted a 38 per cent rise in profit after tax of Rs. 913 crore for Q4FY15 compared with Rs. 663 crore in Q4FY14.
Net interest income
Net interest income, the difference between interest earned and interest expended, grew 16 per cent to Rs. 1,123 crore during the January-March quarter from Rs. 966 crore in the corresponding quarter in the previous fiscal.
Asset quality also improved as gross non-performing assets (NPAs) declined to 1.85 per cent of total gross loans as on March 31, 2015 from 1.98 per cent in the March 2014 quarter, and sequentially down from 1.87 per cent in the December quarter.
Net NPA too declined to 0.92 per cent from 1.08 per cent during the year-ago quarter and 0.97 per cent in the previous quarter.
Ravi Shenoy, AVP - Midcaps Research, Motilal Oswal Securities, said, “Kotak Bank reported numbers above our estimates with a 38 per cent consolidated PAT growth and 30 per cent profit growth for the bank. Asset quality was stable QoQ with no sales to ARCs. Liability side saw CASA (current and savings account) at 36 per cent.”
The shares of Kotak Bank surged 6.54 per cent to close at Rs. 1,423.65 on the BSE.
Source : Thehindubusinessline
Asset quality also improved as gross non-performing assets (NPAs) declined to 1.85 per cent of total gross loans as on March 31, 2015 from 1.98 per cent in the March 2014 quarter, and sequentially down from 1.87 per cent in the December quarter.
Net NPA too declined to 0.92 per cent from 1.08 per cent during the year-ago quarter and 0.97 per cent in the previous quarter.
Ravi Shenoy, AVP - Midcaps Research, Motilal Oswal Securities, said, “Kotak Bank reported numbers above our estimates with a 38 per cent consolidated PAT growth and 30 per cent profit growth for the bank. Asset quality was stable QoQ with no sales to ARCs. Liability side saw CASA (current and savings account) at 36 per cent.”
The shares of Kotak Bank surged 6.54 per cent to close at Rs. 1,423.65 on the BSE.
Source : Thehindubusinessline
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