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Kotak Bank posts 18% rise in Q4 profit at Rs 4,133 croreTotal income rose to Rs 15,285 crore in March quarter of financial year 2023-24, from Rs 12,007 crore in the year-ago period.
PTI
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<div class="paragraphs"><p> A man walks past the Kotak Mahindra Bank branch.</p></div>

A man walks past the Kotak Mahindra Bank branch.

Credit: Reuters File Photo

New Delhi: Private sector lender Kotak Mahindra Bank on Saturday reported an 18 per cent growth in standalone net profit at Rs 4,133 crore for the quarter ended March 31, 2024.

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In the fourth quarter of 2022-23 fiscal, Kotak Bank had posted a profit of Rs 3,496 crore.

Total income rose to Rs 15,285 crore in March quarter of financial year 2023-24, from Rs 12,007 crore in the year-ago period.

For the 2023-24 fiscal, net profit rose 26 per cent to Rs 13,782 crore, from Rs 10,939 crore in the 2022-23 fiscal.

Total income increased to Rs 56,072 crore in 2023-24, from Rs 41,334 crore in 2022-23.

Net Interest Income (NII) for fiscal 2023-24 increased to Rs 25,993 crore, from Rs 21,552 crore in 2022-23, registering a 21 per cent on-year increase.

NII in March, 2024 increased to Rs 6,909 crore, from Rs 6,103 crore in the year-ago period, up 13 per cent.

The Board of Directors of the Bank has recommended a dividend of Rs 2 per equity share having face value of Rs 5, for the year ended March 31, 2024.

As on March 31, 2024, gross non-performing assets (NPA) was 1.39 per cent and net NPA was 0.34 per cent.

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(Published 04 May 2024, 15:21 IST)