Private sector lender Kotak Mahindra Bank reported a 25% growth in net profit for the quarter ended March 31, boosted by a strong loan growth. Kotak Mahindra Bank reported a 25% jump in net profit to ₹1,408 crore in the March quarter, as compared to ₹1,124 crore in the same quarter of the previous year. The bank's net interest income jumped to ₹3,048 crore, from ₹2,580 crore a year earlier. Other income also rose to ₹1,270 crore in the fourth quarter ended March 31, as compared to ₹1,151 crore a year earlier. Shares of Kotak Mahindra Bank edged higher to settle at ₹1,385, up 0.50%.

Source: Mint April 30, 2019 09:52 UTC