Kotak Mahindra Q2 net up 18.8%

Private sector lender Kotak Mahindra Bank has reported an 18.8 per cent jump in net profit.

Private sector lender Kotak Mahindra Bank has reported an 18.8 per cent jump in net profit to Rs 432.58 crore for the second quarter ended September 30,2011.

The bank had posted a net profit of Rs 364.11 crore in the July-September quarter of 2010.

Total income of the bank during the quarter fell to Rs 2,740.84 crore from Rs 2,947.21 crore,Kotak Mahindra said in a filing to the BSE.

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During the first six months of the current fiscal,the bank’s net profit rose by 22.68 per cent to Rs 848.68 crore from Rs 691.80 crore in the same period last fiscal,it said.

The total income of the bank during the April-September period rose to Rs 5,450.48 crore from Rs 5,275.88 crore in the same period of 2010,it added.

Shares of Kotak Mahindra Bank closed 5.25 per cent higher at Rs 494.85 on the BSE.

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