Kotak Mahindra net up 85.77pc at Rs 69.20 cr

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New Delhi, May 9: Kotak Mahindra Bank today said its net profit has increased 85.77 per cent to Rs 69.20 crore for the fourth quarter ended March 2008 as against Rs 37.25 crore in the corresponding quarter last year. The total income has increased 54.11 per cent to Rs 803.02 crore for the quarter ended March 2008 from Rs 521.06 crore in the same period a year ago, a statement said.

The Bank's net profit increased 107.93 per cent to Rs 293.93 crore for the year ended March 2008, as compared to Rs 141.36 crore for the year ended March 2007. The total income has increased 83.10 per cent to Rs 2998.82 crore for the year ended March 2008 from Rs 1637.75 crore for the year ended March 2007. The consolidated results of the group increased 40.96 per cent to Rs 240.10 crore for the fourth quarter ended March 2008, as compared to Rs 170.33 crore in the corresponding quarter last year.

The total income has increased 30.86 per cent to Rs 1,862.50 crore for the fourth quarter ended March 2008, from Rs 1,423.27 crore in the corresponding quarter last year.

The consolidated results of the group increased 84.15 per cent to Rs 991.22 crore for the year ended March 2008, as compared to Rs 538.24 crore for the year ended March 2007, the statement added.

The total income has increased 75.81 per cent to Rs 7,549.39 crore for the year ended March 2008 from Rs 4,293.95 crore for the year ended March 2007.

The Board of Directors of the Bank has recommended a dividend at 7.50 per cent.

UNI

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