Kotak Mahindra Bank shares climb nearly 5% after Q4 earnings
May 6, 2024, 10:55 IST
Shares of Kotak Mahindra Bank on Monday rallied nearly 5 per cent after the company reported a 25 per cent growth in its March quarter net profit. The stock climbed 4.85 per cent to Rs 1,622.35 on the BSE.
On the NSE, it jumped 4.90 per cent to Rs 1,622.50.
It emerged as the biggest gainer among the BSE Sensex and NSE Nifty firms.
Kotak Mahindra Bank on Saturday reported a 25 per cent growth in its March quarter net profit at Rs 5,302 crore, limited by a drop in the core income due to narrow interest margins.
On a standalone basis, the lender's Q4 net profit grew 18 per cent to Rs 4,133 crore.
The FY24 consolidated net profit grew 22 per cent to Rs 18,213 crore.
For the reporting quarter, its core net interest income increased 13 per cent to Rs 6,909 crore on the back of a 20 per cent loan growth and a narrowing of the net interest margin to 5.28 per cent.
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On the NSE, it jumped 4.90 per cent to Rs 1,622.50.
It emerged as the biggest gainer among the BSE Sensex and NSE Nifty firms.
Kotak Mahindra Bank on Saturday reported a 25 per cent growth in its March quarter net profit at Rs 5,302 crore, limited by a drop in the core income due to narrow interest margins.
On a standalone basis, the lender's Q4 net profit grew 18 per cent to Rs 4,133 crore.
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For the reporting quarter, its core net interest income increased 13 per cent to Rs 6,909 crore on the back of a 20 per cent loan growth and a narrowing of the net interest margin to 5.28 per cent.
SEE ALSO:
Global smartphone shipments grow by 6% in Q1 2024, Samsung retakes the top spot
Bajaj Pulsar NS400Z launched at ₹1.85 lakh, becomes cheapest 400cc bike in the country
Advertisement
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