Kotak Mahindra Bank shares climb nearly 5% after Q4 earnings

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 ₹1,622.35 on the BSE.

On the NSE, it jumped 4.90 per cent to ₹1,622.50.

It emerged as the biggest gainer among the BSE Sensex and NSE Nifty firms.

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Kotak Mahindra Bank on Saturday reported a 25 per cent growth in its March quarter net profit at ₹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 ₹4,133 crore.

The FY24 consolidated net profit grew 22 per cent to ₹18,213 crore.

For the reporting quarter, its core net interest income increased 13 per cent to ₹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.