Kotak Mahindra Bank on Saturday reported a 25 per cent growth in its March quarter net profit at Rs 5,302 crore, limited by a drop in the core income due to narrow interest margins.
On a standalone basis, the city-headquartered lender s Q4 net profit grew 18 per cent to Rs 4,133 crore.
The FY24 consolidated net profit grew 22 per cent to Rs 18,213 crore.
Hindustan Unilever s (HUL s) performance for the quarter ended March 2023 (Q4FY24) was in line with modest consensus expectations.
Net revenue was up 1 per cent year-on-year (Y-o-Y) with 2 per cent volume growth.
Home care maintained single-digit volume growth Y-o-Y.
We see mid-and small-caps as a real pot of gold. From a 10-15 years perspective, mid-and small-cap are likely to outperform the larger index, as they have done in the past.
Re-rating of Axis Bank s stock may continue in the near-future, believe analysts, as the risk-reward on the stock remains favourable amid healthy financials.
The bullish stance comes after the Mumbai-based lender delivered a strong outperformance in the March quarter of fiscal year 2023-24 (Q4FY24) on core pre-provision profit and net profit, with improving asset quality.
Axis Bank s net interest margin (NIM) expanded, against expectations, even in a tough market.