 "Kotak buys out Old Mutual's 26% stake for Rs 1,293 cr in insurance arm")
Private lender Kotak Mahindra Bank reported a 23 per cent rise in its June 2019 quarter (Q1) consolidated net profit on account of higher net interest income.
Profit after tax at the consolidated level rose to Rs 1,932 crore in the first quarter of 2019-20 from Rs 1,574 crore in the year-ago period (Q1FY19).
Total consolidated income went up 22.5 per cent year-on-year (YoY) to Rs 12,130 crore, said the bank in a filing to the stock exchanges on Tuesday.
At the standalone level, the bank reported a 33 per cent rise in net profit to Rs 1,360 crore from
