Kotak Mahindra Bank Ltd.

BSE: 500247 | NSE: KOTAKBANK
Large Cap | Bank - Private
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Kotak Mahindra Bank reports 32% rise in Q3 consolidated net profit

Date: 18-01-2016

Kotak Mahindra Bank has reported results for third quarter ended December 31, 2015.

The bank has registered 36.64% rise in its net profit at Rs 634.72 crore for the quarter under review, as compared to Rs 464.52 crore for the same quarter in the previous year. Total income of the bank has increased 61.77% at Rs 4843.86 crore for Q3FY16 as compared Rs 2994.2 crore for the corresponding quarter previous year.

On the consolidated basis, the bank’s net profit rose 31.89% to Rs 945.16 crore for the Q3 FY16 as compared to Rs 716.61 crore in Q3 FY15. Moreover, the total income of the bank surged 30.56% to Rs 6950.41 crore in the quarter under review as compared to Rs 5323.46 crore in the corresponding quarter previous year.

The merger of ING Vysya Bank (eIVBL) with the Kotak Mahindra Bank (Bank) was effective from April 01, 2015. The results for the quarter and nine months ended December 31, 2015 include operations of eIVBL.