Kotak Bank Net At Rs 10 Crore

Kotak Mahindra Bank posted a net profit of Rs 10.06 crore for the fourth quarter ended March 31, 2003, against Rs 19.3 crore reported for the corresponding period last year.

For 2002-2003, the net profit was Rs 44.96 crore, against Rs 54.52 crore in 2001-2002. Total income in 2002-2003 stood at Rs 254.67 crore, up from Rs 187.23 crore last year. The directors proposed a dividend of 21 per cent at a board meeting held here today.

As the bank was operational only for nine days of fiscal year 2003, Kotak Mahindra Bank vice chairman and managing director Uday S Kotak said the previous year