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Kotak Mahindra Q4 net profit rises 40% to Rs976 crore

LiveMint logoLiveMint 27-04-2017 PTI

Bengaluru: Kotak Mahindra Bank, India’s fourth-biggest private sector lender by assets, reported a better-than-expected 40% rise in fourth-quarter net profit, helped by higher interest and fee income even as its bad loans ticked up.

Net profit rose to Rs976 crore for the three months to March 31, from Rs696 crore a year earlier, Kotak said on Thursday.

Analysts on average had expected a net profit of Rs938 crore, Thomson Reuters data showed.

Gross bad loans as a percentage of total loans rose to 2.59% at end-March, from 2.42% in December.

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