[ad_1]
New Delhi, July 19 () Kotak Mahindra Bank shares fell by almost 4% after the company's net profit declined by almost 9% on a sequential basis.
The stock decreased 3.69 percent to finish at Rs 1,350.25 on BSE. During the day, it dropped by 4.78 percent to Rs 1335.
The stock of the company was the most affected among the 30 Senbad blue chips.
In the NSE, the company's shares plunged 3.65% to close at Rs 1 347.40.
The company's market value dropped from Rs 9 873.54 crore to Rs 2, 57,375.46 crore on the BSE.
In terms of volume of shares, 3.21 lakh shares of the company were traded on the BSE and more than 60 lakh shares have changed hands over the NSE during the day.
Kotak Mahindra Bank announced today an autonomous net profit of 1,024.94 million rupees for April-June 2018-19, compared to 1,124.05 million rupees in the quarter ended March.
However, the bank recorded an increase of 12.29% in autonomous net profit to 1,024.94 million rupees for April-June 2018-2019 on an annual basis.
Its net profit rose to Rs 912.73 crore in the corresponding period of 2017-18.
Total income during the quarter was established at Rs.6,644.29 crores, up 19.44% over the same period last year, said Kotak Mahindra Bank in a regulatory filing.
Gross unproductive badets (NPAs) were reduced from 2.58% to 2.17% of gross advances in June 2018-2019 in the same period last year. SUM SBT SBT
Source link
