Shares of Kotak Mahindra Bank today rose nearly 4 per cent after the company reported a 27.65 per cent rise in net profit for the September quarter.
The stock gained 3.82 per cent to Rs 814.95 on BSE.
At NSE, shares of the company jumped 3.61 per cent to Rs 781.10.
The private sector lender yesterday reported a 27.65 per cent rise in September quarter net profit at Rs 1,202.40 crore on a healthy increase in net interest margins.
The city-based bank, which merged with South-focussed ING Vysya Bank last year to become the fourth largest private sector lender, had reported a consolidated net profit of Rs 941.89 crore in the year-ago period.
On a standalone basis, net profit grew 43 per cent to Rs 813 crore in the reporting quarter.
On the asset quality front, gross non-performing assets ratio moved up 2.49 per cent from 2.35 per cent in the year-ago period, which resulted in a jump in the overall provisions to Rs 197 crore.
Disclaimer: No Business Standard Journalist was involved in creation of this content
