Private sector lender Kotak Mahindra Bank on Friday announced a consolidated net profit of Rs 240 crore for the fourth quarter ended March 31, 2008, a 41 per cent growth over the net profit of Rs 170 crore for the same period, last fiscal.

For the financial year ended March 31, the bank announced a consolidated net profit of Rs 991 crore, a growth of 84% over the year-ago period.

The total income rose to Rs 7,549 crore for the fiscal under review, from Rs 4,294 crore in the year-ago period.

Recently, the board declared a dividend of Rs 0.75 per share of face value of Rs 10.

Kotak Mahindra Bank has over 178 branches spread across 107 locations in the country offering both traditional banking products and investment advisory services. The Bank plans to reach the 250th Branch mark by end next year.