India's Kotak Mahindra Bank Q3 profit up 20 pct



At that time, RIL had a market-cap of Rs5,84,000 crore, followed by TCS with a market-cap of Rs5,50,000 crore.

Its net profits stood at Rs 4,642.60 crore for the quarter ended December 31, 2017 and total income was Rs 24,450.4 crore, up from Rs 20,748.3 crore in the third quarter (Q3) of the previous fiscal.

"The key objective of raising capital is to participate in the preferential issue of HDFC Bank up to an amount not exceeding Rs8,500 crore".

At 3pm, IDFC Bank was trading at Rs58 on the BSE, down 0.34% from its previous close, while benchmark Sensex index rose 0.56% to 35,456.23 points.

Kotak Mahindra, the fourth-biggest private sector bank by assets, said net profit rose 20 percent to 10.53 billion rupees in the quarter, also roughly matching analysts' expectations.

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HDFC Bank provides a number of products and services including wholesale banking, retail banking, treasury, auto loans, two wheeler loans, personal loans, loans against property and credit cards.

Total income grew 17.84% to Rs 244.50 billion over Rs 207.48 billion in the same period a year ago. "I think the rates could be in for bit of a pause or if liquidity conditions remain what they are, there could be some upward pressure on both deposit and lending rates", he added.

The ratio of gross NPAs to gross advances stood at 1.29% as on 31 December 2017 as compared to 1.26% as on 30 September 2017 and 1.05% as on 31 December 2016. Net NPAs were at 0.4% of net advances as on December 31, 2017.

HDFC Bank is schedule to announce the unaudited financial results for the quarter ending 31 December 2017 (Q3FY18) on Friday, 19 January 2017.

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