MUMBAI(Reuters) – India’s Kotak Mahindra Bank on Saturday reported a 26% increase in standalone net profit for the January-March quarter, aided by higher net interest income and healthy loan growth.
The private lender’s profit rose to 34.96 billion rupees ($427.8 million) from 27.67 billion rupees ($338.60 million) for the same period last year.
That was above analysts’ forecast of a profit of 29.13 billion rupees, according to Refinitiv data.
($1 = 81.7200 Indian rupees); Editing by William Mallard
(Reporting by Siddhi Nayak; Editing by William Mallard)
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