Kotak Mahindra Bank Q4 profit surges 37.5% at Rs 912 crore

Kotak Mahindra Bank today reported 37.5 per cent jump in its consolidated net profit at Rs 912.6 crore for the quarter ended March 31, 2015.
The bank had posted a net profit of Rs 663.3 crore in the January-March quarter of the previous fiscal, Kotak Mahindra Bank said in a statement.
This is the first quarterly number announcement of the bank post its amalgamation with ING Vysya Bank, making it the fourth largest private sector lender.
However, the merger was effective from April 1, 2015.
The total income on consolidated basis rose to Rs 6,172.26 crore for the quarter ended March 31, 2015 from Rs 4,782.17 crore in the corresponding period a year ago.

On a standalone basis, the bank's net profit rose by 29.4 per cent to Rs 527.14 crore as compared to Rs 407.1 crore for the fourth quarter ended March 2014.

The total income rose to Rs 3,249.08 crore for the quarter ended March 31, 2015 from Rs 2,552.96 crore in the same period a year ago.
The board has proposed a dividend of Rs 0.90 per equity share of face value of Rs 5 each for the financial year 2014-15.
For the entire fiscal ended March 31, 2015, the bank's consolidated net profit increased 23.5 per cent to Rs 3,045.45 crore as against Rs 2,464.99 crore in the previous fiscal.

The total income during the 2014-15 fiscal increased to Rs 21,422.75 crore from Rs 17,235.63 crore in the previous year.
On a standalone basis, the net profit of the bank for the entire fiscal rose by 24.1 per cent to Rs 1,865.98 crore as compared to Rs 1,502.52 crore in 2013-14.
During the year, total income improved to Rs 11,748.32 crore from Rs 10,166.83 crore in 2013-14.