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Kotak Mahindra Bank has reported 15.16% growth in its net profit for the quarter ended March 31,2018 at Rs.1,124 crore. Last year in the same quarter, it had reported a profit of Rs.976 crore.
Its net interest income (NII), the difference between interest earned and interest paid has also grown 18% on year to Rs.2,580 crore. Its non-performing assets, as a percentage of total loans, stood at 0.98% as against 1.09% at the end of the December quarter.
Provisions for the quarter rose to Rs.307 crore, as against Rs.267 crore in the year ago quarter. The bank’s advances were up 25% at Rs.1,69,718 crore for the Mach quarter, while in the same quarter last year it was Rs.1,36,082 crore. Furthermore, the board of directors of the bank has recommended a dividend of Rs.0.70 per equity share of face value of Rs.5 for the full year.
