Kotak Mahindra Bank Q3 net profits at Rs 591 crores; NPAs rise

Kotak Mahindra Bank reported a net profit of Rs 591 crores for the quarter ending Dec 31, 2013 from Rs 583 crores in the previous quarter.

Total income at the bank rose to Rs 4424 crores from Rs 3696 crores in the corresponding period of last year.

Gross NPA at the bank rose to 1.68 per cent, while net NPAs also rose to 0.92 from 0.80 in the previous quarter. Read more on NPA or non performing assets here. The stock of the bank fell sharply by 3 per cent, as the rise in non performing assets disappointed the street.

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