Kotak Mahindra Bank Q1 consol net up 23 percent

San Francisco: Kotak Mahindra Bank Monday reported a jump of 23% in its consolidated net profit at Rs 1,932 crore in the first quarter ended June 30. The bank had posted a net profit of Rs 1,574 crore during the corresponding quarter of the previous fiscal ended March 2019.

On a standalone basis, the lender posted a 33% rise in its net profit to Rs 1,360 crore during the June quarter of 2019-20, against Rs 1,025 crore in the year-ago same period, the bank said. Its total income on a consolidated basis increased to Rs 12,129.56 crore during the quarter, from Rs 9,903.56 crore in the corresponding period of 2018-19. On a standalone basis, the income rose to Rs 7,944.61 crore from Rs 6,644.29 crore during the period, the bank said.

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