Shares of Kotak Mahindra Bank on Monday tumbled nearly 7 per cent amid disappointing June quarter numbers from the company.
The stock dropped 6.95 per cent to ₹1,977.20 on the BSE.
At the NSE, it tanked 6.94 per cent to Rs 1,977.
Kotak Mahindra Bank on Saturday reported a consolidated net profit of ₹4,472 crore for the June quarter, and flagged stress on the retail commercial vehicle portfolio due to adverse macroeconomic conditions.
The profit in the year-ago period was ₹7,448 crore, but it had included gains of over ₹3,000 crore on its stake sale in the general insurance arm, while the net profit for the March quarter stood at ₹4,933 crore.
On a standalone basis, the private sector lender’s net profit dropped 7 per cent year-on-year to ₹3,282 crore, which was attributed to reverses on the core income front due to rate cuts by the RBI, slower growth in fee income and also higher provisions.
The core net interest income grew 6 per cent to ₹7,259 crore on the back of a 14 per cent loan growth, but restricted by a 0.37 per cent narrowing in the net interest margin to 4.65 per cent.
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Published on July 28, 2025