Kotak Mahindra Bank Q1 net up 6.5% at Rs 443 cr

Kotak Mahindra Bank, a private lender, posted a 6.5% growth in consolidated net profit at Rs 443.6 crore for the quarter ended June 2012. It was Rs 416 crore in the same period a year ago.

The total income jumped 23% to Rs 3,331.6 crore as against Rs 2,709.6 crore in June 2011.

In standalone terms, the bank posted a 12% growth in net profit at Rs 282.4 crore for the quarter ended June 2012. It was Rs 252 crore in the same period a year ago.

The total income jumped 32% to Rs 2,057 crore as against Rs 1,558.4 crore in June 2011.

At Rs 582 apiece, the lender's stocks were trading 2% lower on BSE from the previous close.