Kotak Nets Rs 19.34 Crore In June Qtr

Kotak Mahindra Bank has reported a net profit of Rs 19.34 crore in the quarter ended June 2003.

The bank was operating as a non-banking finance company (NBFC) till March 21, 2003 and therefore, this is the first quarter for the bank.

Though the results are not strictly comparable, the erstwhile NBFC Kotak Mahindra Finance (KMFL)had reported a net profit of Rs 11.71 crore in the corresponding period of the previous fiscal.

The bank reported a total income of Rs 79.97 crore as against Rs 53.44 crore in the corresponding period in the previous year.

The interest income increased to Rs 56.74 crore from Rs 39.90 crore while other income increased to Rs 23.23 crore from Rs 13.54 crore in the first quarter of the previous fiscal.

 

On a consolidated basis the bank