NEW DELHI: Shares of Kotak Mahindra Bank shares surged on Monday nearly 5 per cent on Monday 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, making it 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 bank's net profit for Q4 grew by 18 per cent to Rs 4,133 crore. The consolidated net profit for the FY24 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. 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.