Kotak Mahindra Bank share price gained up to 1% in morning trades on the BSE on Monday post Q3 Results over the weekend. Even though net profit missed estimates of some analysts, the same was due to one-offs.
Kotak Mahindra Bank (KMB) reported standalone net profit growth of 7.6% YoY to ₹3005. This was slightly lower than analyst expectations as Q3FY24 results for Bank include ₹143 crore provision (post tax) on applicable Alternate Investment Fund (AIF) investments pursuant to RBI’s circular dated 19th Dec 2023 . Consolidated net profit stood at 4,265 (7% YoY growth).
Net Interest Income grew 16% year-on-year to ₹6554 Crore up 15.9% year on year was up 4.1% sequentially. Net interest Margins that had fallen in Q2FY23 however now stood stable at 5.22% sequentially.\
Source Link: Kotak Mahindra Banks Q3 Results: Should you Buy, Sell or Hold the stock post earnings? | Mint