Kotak Mahindra Bank's Q3 net vaults 100 per cent to Rs142.38 crore

Kotak Mahindra Bank today reported a 100 per cent jump in its fiscal third quarter (October-December 2009-10) net profit at Rs142.38 crore against Rs71.13 crore in the comparable quarter of the previous fiscal.

Interest earnings of Kotak Mahindra Bank rose 3.6 per cent to Rs832.42 crore from the year-ago period.  

Stand-alone profit after tax (PAT) of Kotak Mahindra Bank for the nine months ended December 2009 rose 107 per cent to Rs358.6 crore agsinst Rs173.5 crore in the year-ago period.

On a consolidated basis, PAT zoomed 153 per cent to Rs331.4 crore in Q3 FY'10 as against Rs130.9 crore in the year-ago period. For the nine-months ended December 2009, consolidated PAT rose 101 per cent to Rs888.5 crore against Rs441.7-crore in the previous-year period.

Kotak Mahindra reported good performance across its group businesses, including  life insurance, asset management and securities.

Its corporate and treasury businesses have also fared well, according to the bank.