Net Profit Jumps 26.3% YoY To Rs 3,495 Crore, Announces Dividend of Rs 1.5 Per Share

Private sector lender Kotak Mahindra Bank on Saturday reported a 26.31 per cent jump in its standalone net profit at Rs 3,495.59 crore, compared with Rs 2,767.4 crore. It has also announced a dividend of Rs 1.50 per equity share for the financial year 2022-23.

“The board of directors of Kotak Mahindra Bank Limited have, at their meeting held today, inter alia, recommended a dividend of Rs 1.50 per equity share of the face value of Rs 5 each, out of the net profits for the financial year ended March 31, 2023, subject to the approval of the Members at the ensuing annual general meeting of the bank,” Kotak Mahindra Bank said in a regulatory filing.

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