New Delhi, Apr 27 (PTI) Shares of Kotak Mahindra Bank
today moved up by nearly 2 per cent after the company’s
standalone net profit jumped 40.3 per cent during the last
quarter ended March 31, 2017.
The stock rose by 1.58 per cent to end at Rs 914.55 on
BSE. During the day, it gained 1.96 per cent to Rs 918.
At NSE, shares of the company went up by Rs 1.81 per cent
to close at Rs 916.65.
The company added Rs 2,614.32 crore to Rs 1,68,359.32
crore in market valuation.
In terms of volume, 3.21 lakh shares were traded on BSE
and over 70 lakh shares changed hands on NSE during the day.
Private sector lender Kotak Mahindra Bank’s standalone
net profit jumped 40.3 per cent to Rs 976.48 crore during the
last quarter ended March 2017.
The bank had reported a net profit of Rs 695.78 crore in
the corresponding quarter of 2015-16 fiscal.
Total standalone income rose by 9.9 per cent to Rs
5,434.65 crore during the concluding quarter of 2016-17, as
against Rs 4,947.32 crore in 2015-16, the bank said in a
In terms of asset quality, there was an uptick in gross
non-performing assets (NPAs) ratio at 2.59 per cent of the
gross advances as on March 31, 2017 from 2.36 per cent a year
Likewise, net NPAs or bad loans were 1.26 per cent of the
net advances as on March 31, 2017, slightly up from 1.06 per
cent a year ago.
This is published unedited from the PTI feed.