April 27 (Reuters) - Kotak Mahindra Bank Ltd, India’s fourth-biggest private sector lender by assets, reported a better-than-expected 40 percent rise in fourth-quarter net profit, helped by higher interest and fee income even as its bad loans ticked up.
Net profit rose to 9.76 billion rupees ($152.3 million) for the three months to March 31, from 6.96 billion rupees a year earlier, Kotak said on Thursday.(bit.ly/2oz1Ehc)
Analysts on average had expected a net profit of 9.38 billion rupees, Thomson Reuters data showed.
Gross bad loans as a percentage of total loans rose to 2.59 percent at end-March, from 2.42 percent in December. ($1 = 64.0950 Indian rupees) (Reporting By Tanvi Mehta and Samantha Kareen Nair in Bengaluru; Editing by Amrutha Gayathri)