Kotak Mahindra Bank Q2 net soars 67%

BS 200 Scorecard

 Consolidated net profit for the first half of fiscal year 2004 went up by 114 per cent. On a stand-alone basis, profit after tax was up 67 per cent at Rs 19.84 crore (Rs 11.88 crore).

 Total income was higher by 50 per cent at Rs 93.81 crore (Rs 62.50 crore). Strong growth in treasury and broking earnings contributed to the rise in current quarter profits.

 Uday Kotak, executive vice-chairman and managing director of the bank, said Glodman Sachs has renewed its eight-year old joint venture with the investment banking arm of the bank