Business Standard

Kotak Mahindra net up 6%

Related News

has posted a six per cent rise in consolidated for fourth quarter ended March 2012 at Rs 521 crore on lower contribution from treasury.

The consolidated net profit for Q4 ended March 2011 stood at Rs 491 crore.

The consolidated total income rose to Rs 4,364 crore in Q4 from Rs 3,049 crore a year ago.

Much of the profit growth came from the banking business.

The net profit, on standalone basis, in Q4 rose to Rs 297 crore, from Rs 249 crore in Q4 of FY11.

Uday Kotak, vice-chairman and managing director, said the profit growth was subdued due to lower income from treasury and higher advertising expenditure.

The bank has been able to maintain quality of loans when the economy is going through tougher times. Gross NPAs declined to 1.31 per cent at end of March 2012 from 1.71 per cent a year ago, he said.

The consolidated net profit for year rose by 17 per cent to Rs 1,832 crore from Rs 1,567 crore. Total income grew to Rs 12,937 crore from Rs 10,997 crore.

Consolidated advances rose by 29 per cent to 53,144 crore at end of March 2012 from Rs 41,242 crore a year ago. The growth in loan book is expected to be 25-30 per cent in 2012-13, Kotak said.

The deposits of bank grew by 32 per cent to Rs 38,537 crore. The share of low-cost deposits — current account and savings account — was 32 per cent.

The net interest margin at consolidated level in March 2012 was 4.8 per cent as against 5.2 per cent a year ago.

The capital adequacy ratio, on a consolidated basis, was 17.9 per cent with tier-I of 16.5 per cent in March 2012.

Read more on:   
|
|
|

Read More

Rupee touches new low at Rs 56.5 vs dollar

The rupee today tumbled by 26 paise to trade at a new low of Rs 56.50 against the US dollar in early trade on increased capital outflows and strong ...

Quick Links

More news from Finance Rss icon

Irda gives special dispensation for Hudhud claims

Exemption valid for two months for claims arising out of AP and Odisha from cylone damages

Coming up: Regional health insurers

Insurance amendment Bill proposes to reduce minimum capital to Rs 50 cr. This could enable smaller firms enter the sector and be regional

Share & Asmitha submit business revamp plan to bankers

Under the plan, the non-Andhra Pradesh portfolio of both MFIs is to be demerged, and consolidated into one

Back to Top