Kotak Mahindra Bank Q3 net profit up 34% to Rs 1,267 crore

Total income rose to Rs 7,670 cr during the quarter, from Rs 6,950 cr a year ago

Private sector lender Kotak Mahindra Bank’s consolidated net profit increased by 34% to Rs 1,267 crore for the October-December 2016 quarter from Rs 945 crore a year ago on the back of higher net interest income.

Net interest income, the difference between interest earned and interest expended, increased by 15.9% to Rs 2,747 crore. Other income that includes fees, commission etc also increased to Rs 2,004 crore as compared to Rs 1,804.7 crore in the same quarter last year.

Net interest margin, a key indicator of the bank's profitability expanded to 4.49% from 4.34% in the corresponding quarter last year.