Kotak Mahindra Bank Shares Rise 1% as Q3 Results

23 Jan 2024 , 03:37 PM

Kotak Mahindra Bank’s share price rises by up to 1% on BSE following the release of Q3 results.

Standalone net profit for Q3FY24 shows a 7.6% YoY growth, reaching Rs 3,005.

The Q3 results include a Rs 143 crore provision (post tax) on applicable Alternate Investment Fund (AIF) investments, as per RBI’s circular dated December 19, 2023.

Consolidated net profit records a 7% YoY growth, reaching Rs 4,265. Net Interest Income witnesses a 16% YoY growth, amounting to Rs 6,554 Crore, up 15.9% YoY and 4.1% sequentially. Despite a previous decline in Q2FY23, Net Interest Margins stabilize at 5.22% sequentially.

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