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You are here: HomeBusinessKotak Mahindra Bank Q1 profit rises 12.3%, misses estimates

Kotak Mahindra Bank Q1 profit rises 12.3%, misses estimates

Written by  Published in Business Saturday, 20 January 2018 09:00
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Net profit was Rs 1025 crore ($148.84 million) for the three months ended June 30, compared with Rs 9.13 billion a year ago, the lender, led by Asia’s richest banker Uday Kotak, said in a statement.

Kotak Mahindra Bank Ltd on Thursday reported a 12.3% rise in first-quarter net profit, but fell short of market expectations.

Net profit was Rs 1025 crore ($148.84 million) for the three months ended June 30, compared with Rs 9.13 billion a year ago, the lender, led by Asia’s richest banker Uday Kotak, said in a statement.

Analysts had on average expected a net profit of Rs 11.67 billion for the second most valuable listed lender in India, with a market capitalisation of about $39 billion.

Gross bad loans as a percentage of total loans fell to 2.17% at end-June, compared with 2.22% in the preceding quarter and 2.58% a year ago. Source : ht

 

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Read 182 times Last modified on Thursday, 19 July 2018 08:04

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