Kotak Mahindra Bank Q1 net up 27 pc at Rs 328 cr

Private sector lender Kotak Mahindra Bank today reported a 27 per cent jump in net profit at Rs 328 crore for the quarter ended June 30, 2010. It had a net profit of Rs 257 crore in the April-June quarter of FY'10, the bank said in a statement.

Total income of the the lender, however, dipped to Rs 2,326.51 crore for the June quarter, from Rs 2,338.19 crore in the corresponding period a year ago. Total deposits of the bank as on June 30 were up 38 per cent to Rs 24,058 crore.

The net interest income of the bank rose by 24 per cent to Rs 508 crore during the quarter.

The bank's branch netwrok increased to 262 at the end of June quarter, from 249 at the end of March 31.

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