Kotak Mahindra Bank has posted a 40% increase in consolidated net profit at Rs 145.94 crore for the quarter ended June 30, 2007 (Q1FY08) when compared with Rs 104.43 crore for Q1FY07.According to an official release issued by the bank to the BSE today, total income has increased to Rs 1392.38 crore for the quarter ended June 30, 2007 from Rs 776.58 crore for the quarter ended June 30, 2006.On a stand-alone basis, the bank has posted a net profit of Rs 47.68 crore for the quarter when compared with Rs 23.91 crore for Q1FY07. Total income has increased to Rs 594.45 crore for the quarter ended June 30, 2007 from Rs 306.52 crore for the quarter ended June 30, 2006.The board of the bank at its meeting held today has approved the issue of up to 1,70,00,000 equity shares of Rs 10 each in domestic and/or international markets at a price and other terms and conditions to be decided in accordance with the relevant regulations/guidelines issued by the Securities and Exchange Board of India.
