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Saturday
August 2019
10:47 AM IST
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I find nets claustrophobic, prefer centre wicket for match simulation: Kohli        Rahane's 81 only saving grace in India 203 for 6 on day 1        No more dessert names, Google to officially call new OS 'Android 10'        Sensex, Nifty rebound on hopes of FPI tax rollback        Despite tensions, Pak stands ready to open Kartarpur Corridor: Qureshi        Two Govt hospitals in Pak deny specialised ambulance facility to Sharif        UN, France raise concern over Amazon wildfires 'crisis'        INX Media: SC grants interim protection to Chidambaram in ED case; no relief in CBI matter        Always said demonising Modi wrong: Singhvi        Alert in Tamil Nadu after intel of Lashkar terrorists' intrusion        FM proposes measures to enhance fund flows for infra, housing projs        FATF Asia-Pacific Group puts Pakistan in terror 'blacklist': Officials        Vivek Oberoi to star in film on Balakot air strikes        It's better to get hit early and hard: Kohli on bouncers        Messi 'made me better player', says Ronaldo        Nirav Modi to appear via videolink for remand hearing in UK        Rupee slips 17 paise to 71.72 vs USD in early trade        US seeking balancing act in South Asia over Kashmir: Report        Pro-growth RBI minutes to cap yields; revives expectations for further policy easing        N Korea dismisses nuclear talks if US 'hostile military moves' continue        
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Business News
Kotak Mahindra Bank Q1 consolidated up 23 pc; standalone net jumps 33 pc to Rs 1,360 cr
 
New Delhi, Jul 22 (PTI) Kotak Mahindra Bank Monday reported a jump of 23 per cent in its consolidated net profit at Rs 1,932 crore in the first quarter ended June 30.

The private sector bank had posted a net profit of Rs 1,574 crore during the corresponding quarter of the previous fiscal ended March 2019.

On a standalone basis, the lender posted a 33 per cent rise in its net profit to Rs 1,360 crore during the June quarter of 2019-20, against Rs 1,025 crore in the year-ago same period, the bank said in a release.

Its total income on a consolidated basis increased to Rs 12,129.56 crore during the quarter, from Rs 9,903.56 crore in the corresponding period of 2018-19. On a standalone basis, the income rose to Rs 7,944.61 crore from Rs 6,644.29 crore during the period, the bank said in a regulatory filing.

The lender said the net contribution from subsidiaries and the associates in its consolidated net profit was to the tune of 30 per cent.

The bank's asset quality was restricted to a maintainable position, as the gross non-performing assets (NPAs) were only marginally up at 2.19 per cent of the gross advances as at the end of June 2019 from 2.17 per cent as on June 2018.

Net NPAs or bad assets, however, came down to 0.73 per cent from 0.86 per cent a year ago.

The provisions towards bad loans and contingencies on a consolidated basis were down at Rs 350.22 crore in the April-June period of this fiscal, as against Rs 498.98 crore parked aside by the bank in the year ago same period.

Shares of Kotak Mahindra Bank closed 3.08 per cent down to Rs 1,453.65 apiece on the BSE.


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Sensex, Nifty rebound on hopes of FPI tax rollback
Nirav Modi to appear via videolink for remand hearing in UK
Rupee slips 17 paise to 71.72 vs USD in early trade
SBI plans to establish nearly 10 lakh YONO Cash Points
Sensex tumbles 268 pts; Tata Motors tanks 9 pc
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Airtel shareholders approve waiver in recovery of excess pay to Mittal
Rupee slips 12 paise to 70.93 vs USD in early trade
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KERALA NEWS
Malayalam actor, film crew stranded in Himachal village
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INTERNATIONAL NEWS
Despite tensions, Pak stands ready to open Kartarpur Corridor: Qureshi
 Islamabad: Pakistan on Friday said that despite tensions with India, it stands ready to open the Kar
Two Govt hospitals in Pak deny specialised ambulance facility to Sharif
UN, France raise concern over Amazon wildfires 'crisis'
US seeking balancing act in South Asia over Kashmir: Report
NATIONAL NEWS
INX Media: SC grants interim protection to Chidambaram in ED case; no relief in CBI matter
 New Delhi: Congress leader and former union finance minister P Chidambaram was on Friday granted pro
Always said demonising Modi wrong: Singhvi
Alert in Tamil Nadu after intel of Lashkar terrorists' intrusion
FATF Asia-Pacific Group puts Pakistan in terror 'blacklist': Officials
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