Mumbai, (IANS) : Kotak Mahindra Bank (Kotak Bank) on Thursday reported a rise of 40 per cent in its stand-alone net profit for the fourth quarter (Q4) of fiscal 2016-17.

The company’s net profit increased to Rs 976 crore from Rs 696 crore reported in the fourth quarter of 2015-16.

The bank’s net interest income (NII) during the quarter under review grew by 16 per cent to Rs 2,161 crore on a YoY basisfrom Rs 1,857 crore earned during 2015-16.

“Net interest margin (NIM) for Q4FY17 at 4.6 per cent up from 4.4 per cent in Q4FY16. Advances as on March 31, 2017 were up 15 per cent YoY to Rs 136,082 crore (Rs 118,665 crore as on March 31, 2016),” the company said in a statement.