Kotak Bank's Q3 net down 2%

Impacted by a drop in treasury income, Kotak Mahindra Bank has posted a lower consolidated net profit of Rs 43.43 crore for the third quarter ended december 2004 as against Rs 44.28 crore in same quarter of
FY-04.

However, the consolidated total income for the quarter was up by a 32% to Rs 396.91 crore as compared to Rs 300.60 crore in Q3 of 2003-04, the private sector bank said in a release today.

The marginal decline in net profit was primarily on account of lower treasury earnings, the release added.

The consolidated fee income, including life insurance premium increased by 41% to Rs 168.37 crore from Rs. 119.52 crore in Q3 FY-04, it said.

The consolidated advances were up 42% to Rs 6,225 crore as on December 31, 2004.

The consolidated net NPAs as on December 31, 2004 were 0.3% of net advances. The capital adequacy of the bank as on December 31, 2004 stood at 13.73%, it added.