Shares of private sector lender Kotak Mahindra Bank fell 4.73% today i.e. Monday, October 21, following July-September quarterly results. After the day's business, the company's share was Rs. 88 down to Rs. closed at 1,782.
The bank posted 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% year-on-year. In the same quarter a year ago (Q2FY24), the bank posted Rs. 3191 crore profit was made.
The company's NII rose 11% in July-September
Private sector banks' net interest income (NII) or core income rose 11% to Rs. 7,020 crores. In the corresponding quarter of last financial year, the bank's interest income stood at Rs. 6,297 crores. Net interest margin (NIM) during this period was 4.91%.
Earnings from Fees and Service Charges Rs. 2,312 crores
According to the filing, the bank in the second quarter from fees and service charges of Rs. 2,312 crore was collected. There was a growth of 14% year-on-year. In the financial year 2023-24, the bank earned Rs 2026 crore from fees and service charges.
The bank's operating profit in July-September 2024 rose 11% year-on-year to Rs. 5,099 crores. In July-September 2023 (Q2FY24) it was Rs. 4,610 crores.
Kotak Bank stock returned 2.40% in one year
Shares of Kotak Mahindra Bank rose 4.73% today i.e. Monday, October 21 to Rs. closed at the level of 1,782. The company's stock has fallen 6.63% in the last 5 days, 7.87% in one month, 1.52% in 6 months and 6.63% since January 1 this year. A private sector bank has returned just 2.40% in one year.
Shares of Kotak Mahindra Bank rose 4.73% today i.e. Monday, October 21 to Rs. closed at the level of 1,782.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
