Kotak Mahindra Q1 net up 99.45 per cent

New Delhi, July 24: Country's leading Bank Kotak Mahindra Bank Ltd today said its net profit had increased by a whopping 99.45 per cent at Rs 47.67 crore for the quarter ended June 30, 2007 compared to Rs 23.9 crore for the same quarter a year ago.

Total income also soared by 93.93 per cent to Rs 594.45 crore for Q1 FY07 against Rs 306.52 crore during the first quarter in the previous fiscal.

The Group also registered an increase of 39.73 per cent in its net profit at Rs 145.93 crore for the first quarter of this fiscal compared to Rs 104.43 crore for Q1 FY06.

The Group's total income witnessed a hike of 79.29 per cent to Rs 1392.38 crore for Q1 FY07 compared to Rs 776.58 crore for the quarter ended June 30, 2006.

The Bank also said it is planning to issue up to 1.7 crore equity shares in the domestic and/or international markets.

UNI