Kotak Mahindra Bank Q1 net up by 27% at Rs 328 cr

Kotak Mahindra Bank Q1 net up by 27% at Rs 328 crLeading private sector lender Kotak Mahindra Bank has announced its first quarter financial results for the fiscal year 2010. The company has posted a net profit of Rs 328 crore during the April-June quarter of fiscal year 2010-11.

This net profit figure has grown up by 27% in this quarter as compared to the same quarter in the last fiscal. This has been informed by Kotak Mahindra Bank in a filing at the Bombay Stock Exchange.

In a statement, the bank had said that it had a net profit of Rs 257 crore in the April-June quarter last year. The total income of the lender was declined has to Rs 2,326.51 crore during the April-June quarter of fiscal year 2010-11.

It was Rs 2,338.19 crore for the corresponding quarter in the preceding year. The deposits of the bank are reported to be Rs 24,058 crore with an increase of 30% in the Q1 under review. The bank has posted a net interest income of Rs 508 crore in this period of time with a rise of 24%.




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