Kotak Mahindra Q3FY07 net doubles at Rs 169.57cr

New Delhi, Jan 22: Kotak Mahindra Group reported a 107.3 per cent growth in its net profit for the third quarter ended December 31, 2006 at Rs 169.57 crore as compared to Rs 81.81 crore for the same period a year ago.

Its total income of the group increased 82.16 per cent to Rs 1,190.59 crore for the period from Rs 653.57 crore for Q3FY06.

Kotak Mahindra Bank Ltd posted a 39.3 per cent growth in its net profit for the third quarter at Rs 45.4 crore as compared to Rs 32.6 crore in the corresponding period last year.

''This quarter has seen robust growth in fee income and lending activities. We continue to invest in expanding our branch banking network and building the life insurance business,'' bank Executive Vice Chairman and Managing Director Uday Kotak said.

The bank's total income increased 96 per cent to Rs 452.53 crore for the quarter from Rs 230.9 crore for the same quarter a year ago.

UNI