Kotak Mahindra Bank share price drops over 2% post Q2 Results; here's what brokerages say
₹3,191 crore. This increase was mostly due to an improvement in core income and a decrease in bad loans.
Kotak Mahindra Bank share price opened at intraday high of ₹1,772 apiece on BSE. In the same quarter of the previous fiscal year, the private sector lender reported a net profit of ₹2,581 crore.
According to a regulatory statement by Kotak Mahindra Bank, its total income for the July–September period increased to ₹13,507 crore from ₹9,925 crore in the corresponding quarter last year. Net interest income (NII) rose from ₹5,099 crore to ₹6,297 crore in a year, a 23% rise.
Compared to the same period in the prior fiscal year, when it was 5.17%, its net interest margin increased to 5.22% for the quarter. At 09:59 IST, Kotak Mahindra Bank share price was trading at ₹1,734.30 apiece on BSE, down 1.99%.
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