Kotak Mahindra Bank shares up nearly 2% post Q4 show

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Kotak Mahindra Bank shares up nearly 2% post Q4 show

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

regulatory filing.

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

ago.

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.