New Delhi: Shares of Kotak Mahindra Bank today moved up by nearly 2 per cent after the company's standalone net profit jumped 40.3 per cent during the last quarter ended March 31, 2017.
The stock rose by 1.58 per cent to end at Rs 914.55 on BSE. During the day, it gained 1.96 per cent to Rs 918. At NSE, shares of the company went up by Rs 1.81 per cent to close at Rs 916.65.
The company added Rs 2,614.32 crore to Rs 1,68,359.32 crore in market valuation. In terms of volume, 3.21 lakh shares were traded on BSE and over 70 lakh shares changed hands on NSE during the day.
Private sector lender Kotak Mahindra Bank's standalone net profit jumped 40.3 per cent to Rs 976.48 crore during the last quarter ended March 2017. The bank had reported a net profit of Rs 695.78 crore in the corresponding quarter of 2015-16 fiscal.
Total standalone income rose by 9.9 per cent to Rs 5,434.65 crore during the concluding quarter of 2016-17, as against Rs 4,947.32 crore in 2015-16, the bank said in a regulatory filing.
In terms of asset quality, there was an uptick in gross non-performing assets (NPAs) ratio at 2.59 per cent of the gross advances as on March 31, 2017 from 2.36 per cent a year ago.
Likewise, net NPAs or bad loans were 1.26 per cent of the net advances as on March 31, 2017, slightly up from 1.06 per cent a year ago.