Shares of Kotak Mahindra Bank fell nearly 3 per cent after the bank's third quarter profit missed estimates and non-performing assets increased.
The shares of the private sector lender fell nearly 3 per cent to Rs. 705.50. The Bank Nifty in comparison was up nearly 1 per cent.
The bank reported a net profit of Rs. 340 crore on a standalone basis in the quarter ended December 31 and Rs. 591 crore on a consolidated basis which includes the earnings from the investment banking division.
The bank was expected to post a net profit of Rs. 375 crore in the third quarter, according to an NDTV poll of analysts. Read more..
The shares of the private sector lender fell nearly 3 per cent to Rs. 705.50. The Bank Nifty in comparison was up nearly 1 per cent.
The bank reported a net profit of Rs. 340 crore on a standalone basis in the quarter ended December 31 and Rs. 591 crore on a consolidated basis which includes the earnings from the investment banking division.
The bank was expected to post a net profit of Rs. 375 crore in the third quarter, according to an NDTV poll of analysts. Read more..
Source: Business News Hindi
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