This website is not our product. This PageOne showcases only a few of our special stories across our three wires. Our full coverage is available real-time through a subscription-only mobile app along with a web app that can be used on a PC, laptop, or tablet. Visit our Products page to know about our products and subscription choices. Take a 30-day free trial of our real-time news. Subscription only, ad-free.
India's fourth-largest private lender – Kotak Mahindra Bank Ltd.– reported over 14% on-year decline in net profit for the March quarter as provisions jumped over three-fold compared to the corresponding quarter a year ago. The net profit for the quarter under review was INR 35.52 billion, up 7.5% sequentially, and marginally lower than analysts' expectation of INR 35.66 billion. Provisions during Jan-Mar was INR 9.09 billion as against INR 2.64 billion a year ago. Sequentially, the provisioning was up nearly 15%.
Share this Story:
