Kotak posts justifiable Q4 numbers: Kotak’ING fruitful

Kotak Mahindra Bank one of the largest private lenders has announced its Q4FY16 results today, wherein it witnessed marginally positive quarter on quarter and exceptionally positive year on year results.

On financial front the bank’s consolidated Interest earned has risen by 3.3 per cent to Rs 5317.46 crore this quarter as against Rs 5145.73 crore in Q3FY16. The Interest expended stands at Rs 2850.52 crore as against Rs 2775.74 crore for Q3FY16, an increase of 2.7 per cent.

The Net profit (PAT) stands at Rs 1055.23 crore in Q4FY16 as against Rs 945.16 crore last quarter, an increase of 11.6 per cent Q-O-Q. Bank’s per cent of Gross NPA stands flat at 2. 06 as compared to 2.01 per cent in the last quarter. Per cent of Net NPA has come in at 0.93 as against 0.85 per cent earlier.

Bank has posted energising Year on year results, wherein a rise has been seen in its Interest Earned, of the order of 51.2 per cent at Rs 3517.04 crore. Interest Expended too has increased by 55.2 per cent from Rs 1836.9 crore in the same quarter last year. Net profit has risen by 15.6 per cent from Rs 912.6 crore. Per cent of Gross and Net NPAs have seen a hike from its March 15 quarter.

On the day of result today, the stock closed on a positive note at Rs 729.95 nearly 1 per cent up.