Kotak Bank shares up nearly 4% on Q2 earnings

Shares of Kotak Mahindra Bank today rose nearly 4 per cent after the company reported consolidated net profit of Rs 942 crore for the second quarter ended September 30.
The stock was up 3.77 per cent to close at Rs 688.60 on BSE. Intra-day, it gained 4.47 per cent to Rs 693.30.
On NSE, shares of the company rose 3.56 per cent to end at Rs 687.65.
Led by the uptick in the stock, the company's market valuation went up by Rs 4,617.34 crore to Rs 1,26,089.34 crore.
Kotak Mahindra Bank today reported a consolidated net profit of Rs 942 crore for the September quarter.

It had posted a profit after tax of Rs 718 crore in the July-September quarter of the 2014-15 fiscal.

"The results for the quarter and half year ended September 30, 2015 include operations of erstwhile ING Vysya. Hence, the results...Are not comparable with that of the corresponding period of the previous year," Kotak Bank said in BSE filing.
The Reserve Bank had approved merger of ING Vysya Bank with Kotak Mahindra Bank effective April 1, 2015.
Consolidated total income of the company stood at Rs 6,729 crore for the second quarter of the current fiscal, as against Rs 4,920 crore in the year-ago period.

On a standalone basis, Kotak Bank posted net profit of Rs 569 crore for the quarter ended September 30. It had a profit of Rs 444 crore for the second quarter of last fiscal.