Kotak Bank March qtr PAT up 17% at Rs 491 cr

Private lender Kotak Mahindra Bank today posted a 17% rise in consolidated profit after tax (PAT) at Rs 491 crore for the three months ended March 31, 2011.

The bank had a PAT of Rs 419 crore in the same period an year-ago, Kotak Mahindra Bank said in a release.

Total income rose to Rs 3,027.78 crore in the latest quarter as compared to Rs 2,945.31 crore in the same period last year.

The consolidated PAT for 2010-11 of the bank stood at Rs 1,567 crore, up 20% from 2009-10.

The bank has declared a dividend of Rs 0.50 per share with a face value Rs 5 for the year ended March 31.

The standalone PAT of the bank for the three months ended March 2011 stood at Rs 249 crore as compared to Rs 203 crore in the same period a year ago.

Besides Kotak Mahindra Bank, the other entities of the group include Kotak Mahindra Capital, Kotak Securities, Kotak Mahindra AMC & Trustee Co, Kotak Mahindra Oil Mutual Life Insurance.

Source: Business Standard