Kotak Mahindra Bank, one of the leading private sector lenders, has reported a rise of 29.48% in net profit on year-on-year basis to Rs 5.27 billion for the quarter ended Mar. 31, 2015. Analysts on average had predicted net profit of Rs 4.85 billion.
Total income has increased by 27.26% to Rs 32.49 billion for the quarter ended Mar. 31, 2015 as compared to Rs 25.53 billion in the same period last year.
On consolidated basis, the company has reported a rise of 37.56% in consolidated net profit on year-on-year basis to Rs 9.12 billion for the quarter ended Mar. 31, 2015.
Total income has increased by 29.07% to Rs 61.72 billion for the quarter ended Mar. 31, 2015 as compared to Rs 47.82 billion in the same period last year.
Consolidated advances up 24% tp Rs 886.32 billion as on Mar. 31, 2015 from Rs 716.93 billion as on Mar. 31, 2014.
Consolidated NIM for FY15 stood at 4.93% (FY14-4.97%).
Shares of the bank gained Rs 66.75, or 5%, to trade at Rs 1,403. The total volume of shares traded was 241,364 at the BSE (2.23 p.m., Tuesday).