Kotak Mahindra Bank Q3 results: The net profit of private sector leading bank Kotak Mahindra Bank increased by 10 percent on an annual basis in the December quarter. However, on the other hand, the asset quality of the bank has weakened slightly and gross NPA has increased on a quarterly basis. The bank has today presented its December quarter results and according to this, the net profit for October-December 2024 increased by 10 percent on an annual basis to Rs 4,701.02 crore. Talking about the shares, on Friday, January 17, a day before the results, it closed at Rs 1758.65 on BSE with a fall of 2.58 percent. Earlier, it had strengthened by about 4 percent in three consecutive trading days.
Kotak Mahindra Bank Q3 results: Highlights
In the third quarter of the current financial year, October-December 2024, the net profit of Kotak Mahindra Bank increased by 10 percent on an annual basis to Rs 4,701.02 crore. Talking about asset quality, gross NPA increased from 1.48 percent to 1.51 percent on quarterly basis. However, it has improved on an annual basis as the gross NPA in the December 2023 quarter stood at 1.68 percent. On a quarterly basis, net NPA improved from 0.45 percent to 0.44 percent. However, net NPA in the December 2023 quarter stood at 0.36 percent. Gross NPA fell to Rs 7,218.17 crore from Rs 6,834.7 crore quarter-on-quarter and net NPA fell to Rs 2,070.42 crore from Rs 2,066.51 crore in the December 2024 quarter.
How were the shares in one year?
Shares of Kotak Mahindra Bank were at Rs 1544.15 last year on May 3, 2024, which is a one-year low for it. In less than 5 months from this low, it jumped by more than 26 percent to reach a price of Rs 1953.00 on September 23, 2024, which is a record high for its shares. However, the rise of shares stopped here and at present it is about 10 percent downside from this high.