Kotak Mahindra Bank reports 36% rise in Q4 consolidated net profit

Kotak Mahindra Bank has reported results for fourth quarter and year ended March 31, 2021.

The bank has reported 32.83% rise in its net profit at Rs 1682.37 crore for the quarter under review as compared to Rs 1266.60 crore for the same quarter in the previous year. Total income of the bank increased by 1.26% at Rs 8398.39 crore for Q4FY21 as compared Rs 8294.07 crore for the corresponding quarter previous year.

On the consolidated basis, the bank has reported 35.91% rise in its net profit at Rs 2589.32 crore for the quarter under review as compared to Rs 1905.18 crore for the same quarter in the previous year. Total income of the bank increased by 33.85% at Rs 16175.87 crore for Q4FY21 as compared Rs 12084.71 crore for the corresponding quarter previous year.

For the year ended March 31, 2021, the bank has reported 17.11% rise in its net profit at Rs 6964.84 crore as compared to Rs 5947.18 crore for the previous year. However, total income of the bank reported marginal fall at Rs 32299.47 for year under review as compared to Rs 32301.72 crore for year ended March 31, 2020

For the year ended March 31, 2021, on the consolidated basis, the bank has reported a rise of 16.25% in its net profit at Rs 9990.20 crore as compared to Rs 8593.36 crore for the previous year. Total income of the bank increased by 12.73% at Rs 56703.73 crore for year under review as compared to Rs 50299.69 crore for year ended March 31, 2020.