Kotak Mahindra Bank shares end nearly 2 pc lower after Q2 earnings

New Delhi, Oct 27 (PTI) Shares of Kotak Mahindra Bank ended nearly 2 per cent lower on Monday after the firm reported an 11 per cent decline in consolidated net profit for the September quarter.

The stock

declined 1.74 per cent to settle at Rs 2,148.85 apiece on the BSE. During the day, it dropped 2.82 per cent to Rs 2,125.

On the NSE, the stock dipped 1.71 per cent to settle at Rs 2,149.40. During the day, it edged lower by 2.97 per cent to Rs 2,122.

In terms of volume, 6.08 lakh shares of the firm were traded on the BSE and 37.20 lakh shares exchanged hands on the NSE during the day.

Kotak Mahindra Bank on Saturday reported an 11 per cent decline in consolidated net profit for the September quarter to Rs 4,468 crore, pulled down by slower growth in core income and weak performance of some subsidiaries.

On a standalone basis, the private sector lender reported a 3 per cent fall in net profit to Rs 3,253 crore for the reporting quarter.

Total consolidated income dropped to Rs 24,901.39 crore in the second quarter of FY2025-26 from Rs 26,880.02 crore in the year-ago quarter.

Standalone income, however, increased to Rs 16,239 crore during the quarter under review, from Rs 15,900 crore in the same period last year. PTI SUM SUM SHW