Kotak Mahindra Bank, India's fourth-biggest private sector lender by assets, reported a better-than-expected 40 per cent rise in fourth-quarter net profit, helped by higher interest and fee income even as its bad loans ticked up.
Net profit rose to Rs 9.76 billion ($152.3 million) for the three months to March 31, from Rs 6.96 billion a year earlier, Kotak said on Thursday.
Analysts on average had expected a net profit of Rs 9.38 billion, Thomson Reuters data showed.
Gross bad loans as a percentage of total loans rose to 2.59 per cent at end-March, from 2.42 percent in December.
(Reuters)
_20241003152432_original_image_28.webp)
 (1)_20241002162318_original_image_43.webp)