After the July-September quarter results, the shares of private sector lender Kotak Mahindra Bank have fallen by 7.13% today i.e. Monday, October 21. The company's shares have fallen by Rs 133 and are trading at Rs 1,737.
The bank has made a net profit of Rs 3,344 crore in the second quarter of the financial year 2024-25. There has been an increase of 5% on annual basis. In the same quarter a year ago (Q2FY24), the bank had made a profit of Rs 3191 crore.
Net interest income (NII) or core income of private sector banks increased by 11% to Rs 7,020 crore in the July-September quarter. In the same quarter of the last financial year, the interest income of the bank was Rs 6,297 crore. Net interest margin (NIM) during this period was 4.91%.
According to the filing, the bank collected Rs 2,312 crore from fees and service charges in the second quarter. There was a growth of 14% on annual basis. In the financial year 2023-24, the bank had earned Rs 2026 crore from fees and service charges.
The operating profit of the bank increased by 11% year-on-year to Rs 5,099 crore in July-September 2024. It was Rs 4,610 crore in July-September 2023 (Q2FY24).
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