Kotak Mahindra Bank Q3 PAT down 64 pcthttps://indianexpress.com/article/business/business-others/kotak-mahindra-bank-q3-pat-down-64-pct/

Kotak Mahindra Bank Q3 PAT down 64 pct

Private sector lender Kotak Mahindra Bank on Thursday reported a 64 per cent decline in its profit after tax (PAT) at Rs 130.90 crore.

Private sector lender Kotak Mahindra Bank on Thursday reported a 64 per cent decline in its profit after tax (PAT) at Rs 130.90 crore for the third quarter ended December 2008.

The bank had a PAT of Rs 363.73 crore in the Q3 of fiscal 2008,Kotak Mahindra said in a filing to the Bombay Stock Exchange.

The bank’s total income fell by 32.14 per cent to Rs 1,684.75 crore during the quarter under review,from Rs 2,482.72 crore in the year-ago period.

During the quarter the bank’s interest income rose 13.60 per cent to Rs 1,127.31 crore,from Rs 992.32 crore in the same period last fiscal.

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On a standalone basis,the private sector lender reported a net profit of Rs 71.13 crore,and it had a total income of Rs 912.55 crore during the December quarter.

For the nine-month ended December 2008,the bank reported a 41 per cent decline in its PAT at Rs 441.72 crore,and a total income of Rs 5,011.51 crore.

Shares of Kotak Mahindra Bank were trading at Rs 278.20,down 5.28 per cent on the BSE.