Brokerages had predicted that the private lender might report a 5-9 per cent rise in profit for the March quarter on 30-35 per cent surge in net interest income (NII).
HDFC Securities Institutional Research said the prevailing lofty valuations factor in an uptick in credit, cost of funds tailwinds, and normalising credit costs in FY22.
Kotak Bank Q4 Results: Net profit rises 33% YoY, below estimates; asset quality improves
SECTIONS
Last Updated: May 03, 2021, 01:51 PM IST
Share
Synopsis
The lender reported 8 per cent on-year growth in net interest income to Rs. 3,843 crore for the quarter.
The lender reported 8% on-year growth in net interest income to Rs. 3,843 crore for the quarter.
Related
NSE
MUMBAI:
Kotak Mahindra Bank on Monday reported a 33 per cent year-on-year rise in net profit to Rs. 1,682 crore for the quarter ended March, missing analysts estimates by a wide margin. Sequentially, the lender’s net profit fell on account of a rise in provisions.
The lender reported 8 per cent on-year growth in net interest income to Rs. 3,843 crore for the quarter, which was also below Street’s estimate.