Kotak Mahindra Bank reports 21.20% rise in Q3 net profit

Kotak Mahindra Bank, the private sector lender, on Tuesday reported a 21.20 per cent increase in its consolidated net profit at Rs 716.61 crore for the third quarter ended December 2014.

The company reported a net profit of Rs 591.25 crore in the corresponding period a year ago.

Total income increased by 20.31 per cent to Rs 5,323.46 crore in the quarter under review from Rs 4,424.5 crore in the same period last year, Kotak Mahindra said in a filing to the the Bombay Stock Exchange (BSE).

Net interest income for the third quarter was up 16.10 per cent to Rs 1,060 crore from Rs 913 crore a year earlier.

Kotak Mahindra shares were trading at Rs 1,393 a piece, up 0.29 per cent from the previous close on the BSE.