India's Kotak Mahindra Q4 net up 30 pct; to issue free shares

May 5, 2015 9:01 AM

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MUMBAI May 5 (Reuters) - Kotak Mahindra Bank Ltd, India's fourth-biggest private sector lender by assets, reported a better-than-expected 29.5 percent rise in quarterly profit and said it would issue free shares to investors.

Standalone net profit rose to 5.27 billion rupees ($83.14 million) for its fiscal fourth quarter to March 31, from 4.07 billion rupees a year earlier. That compared with analysts' expectation of 4.97 billion rupees.

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