Reuters logo
India's Kotak Mahindra Q4 net profit beats estimates; bad loans tick up
April 27, 2017 / 8:18 AM / 7 months ago

India's Kotak Mahindra Q4 net profit beats estimates; bad loans tick up

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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below