May 08, 2012, 02.26 PM | Source: Moneycontrol.com
Kotak Mahindra Bank, country's third largest private sector lender has reported a growth of 18.9% year-on-year in its standalone profit after tax of Rs 296 crore for the fourth quarter of FY12.
Standalone net interest income increased 10.6% to Rs 688 crore from Rs 622 crore during the same period.
Analysts on average had expected net profit at Rs 292 crore and net interest income at Rs 724.6 crore.
Gross non-performing assets (NPAs) increased at 1.56% for the January-March quarter of 2012 versus 1.52% in the previous quarter. Net NPAs too moved up at 0.61% versus 0.56% during the same period.
Standalone other income went up moderately at Rs 254 crore from Rs 248 crore year-on-year.
Gross NPAs stood at Rs 614 crore for the fourth quarter of FY12 as against Rs 610 crore in the third quarter of same financial year.
Net interest margins improved at 4.8% versus 4.7% quarter-on-quarter.
Kotak Mahindra Bank has decided to pay a dividend of 60 paise a share.
The acquisition process is expected to be complete
Parag Thakkar of HDFC Securities is of the view th
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