 "Kotak Mahindra Bank standalone net profit rises 32% in the March 2016 quarter")
Private sector Kotak Mahindra Bank Ltd. on Wednesday said it closed the last fiscal with a net profit of Rs 2,089.78 crore.
Net profit of Kotak Mahindra Bank rose 31.99% to Rs 695.78 crore in the quarter ended March 2016 as against Rs 527.14 crore during the previous quarter ended March 2015.
Total Operating Income rose 65.27% to Rs 4265.41 crore in the quarter ended March 2016 as against Rs 2580.94 crore during the previous quarter ended March 2015.
For the full year, net profit rose 11.99% to Rs 2089.78 crore in the year ended March 2016 as against Rs 1865.98 crore during the previous year ended March 2015.
Total operating income rose 68.56% to Rs 16384.19 crore in the year ended March 2016 as against Rs 9719.87 crore during the previous year ended March 2015.
The bank's board recommended a dividend of 50 paise per share for 2015-16.
(Kotak Mahindra and associates hold a significant stake in Business Standard Pvt Ltd)