Kotak Mahindra Bank PAT at Rs.45.40 Crores, sees robust growth in fee income

Kotak Mahindra Bank Ltd has announced the following Unaudited results for the quarter ended December 31, 2006:

The Bank has posted a profit after tax of Rs 454.009 million for the quarter ended December 31, 2006 as compared to Rs 326.428 million for the quarter ended December 31, 2005. Total Income has increased from Rs 2309.229 million for the quarter ended December 31, 2005 to Rs 4525.313 million for the quarter ended December 31, 2006.

The Consolidated results are as follows

The group has posted a profit after tax of Rs 1695.774 million for the quarter ended December 31, 2006 as compared to Rs 818.103 million for the quarter ended December 31, 2005. Total Income has increased from Rs 6535.694 million for the quarter ended December 31, 2005 to Rs 11905.947 million for the quarter ended December 31, 2006.

Announcing the results, Uday Kotak, Executive Vice Chairman & Managing Director, of the Bank said, "This quarter has seen robust growth in fee income and lending activities. We continue to invest in expanding our branch banking network and building the life insurance business."

Source : Equity Bulls

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