Kotak Mahindra Bank reported an 18% year-over-year increase in its Q4 net profit, totaling Rs 4,133 crore, with a net interest margin (NIM) of 5.28%. The bank's CEO, Ashok Vaswani, indicated that the recent RBI restrictions are expected to impact the bank's FY25 profits by up to Rs 450 crore, but he emphasized that the financial impact would be minimal compared to the reputational concerns. Vaswani also highlighted the bank's focus on deepening relationships with existing customers and improving technological infrastructure to mitigate the effects of these curbs. Additionally, the bank's share price surged 4.2% to Rs 1,612.30 following the announcement of the Q4 results, marking its largest jump in over two and a half years. The profit jump was noted at 26% year-over-year, significantly beating estimates.
India's Kotak Mahindra jumps most in 2-1/2 yrs as CEO sees minimal impact from RBI order https://t.co/3BLM7kvtlX https://t.co/MIn1M8Eaj1
India's Kotak Mahindra jumps most in 2-1/2 yrs as CEO sees minimal impact from RBI order https://t.co/eCT8GVOSXK https://t.co/bL3Lcj7fVA
#KotakMahindraBank share price: The stock rallied 4.2% to ₹1,612.30 apiece on the BSE after reporting better than expected Q4 results. https://t.co/Jis6AH6aOu
Watch | Kotak Bank's MD and CEO Ashok Vaswani tells ET NOW he is worried more about the reputational impact than the financial impact of RBI curbs - adds bank will focus on deepening relationship with existing customers while fixing the tech infra @KotakBankLtd @ankurmishrasays https://t.co/ji9L1PqkHN
#Kotak #MD, #CEO #AshokVaswani guides for a hit of up to ₹400 cr from #RBI curbs https://t.co/YFZ1ptm2tQ
#RBI's ban to impact reputation of #KotakMahindraBank more than financial: #AshokVaswani https://t.co/fqIWEdKRRx
Result Calendar This Week: FULL list of NSE, BSE companies which will release Q4 FY 2024 earnings from May 6-10 https://t.co/pXM4RthQiR
#Q4WithETNOW | Kotak Mahindra Bank concall: "First priority is to get Kotak back to the business as usual" @KotakBankLtd #StockMarket #RBI https://t.co/AE9ngzKgIO
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#KotakMahindraBank to redeploy resources to minimise impact of #RBI's restrictions https://t.co/nxNvQsEQzK
#RBI curbs to impact #KotakMahindra's FY25 profit by up to ₹450 crore: CEO https://t.co/nXKuOw7bKf
#ExpressBiz | RBI action to have limited financial impact; worried about reputational damage: Kotak Mahindra Bank https://t.co/SmY1u89RnN
IPO Calendar THIS Week: Full list of upcoming mainboard, SME IPOs on NSE, BSE for May 6 - May 10 https://t.co/KkizGXCht0
#KotakMahindraBank reports 18% growth in Q4 net profit, total #income rises significantly for FY 2023-24 https://t.co/msW3xJu7NY
Quarterly Results This Week: 320 NSE, BSE companies to declare Q4 FY24 earnings - FULL LIST https://t.co/3euFwqDh3a
#LeadStoryOnET | Kotak Bank's 18% profit rise in Q4 gives something to cheer for amid other headaches https://t.co/cTsBUpW0Ot
IDBI Bank share price target 2024: Net profit jump 55% YoY in Q4 results - Time to buy? https://t.co/j3YAxoVkU8
Earnings With ETNOW | Take a quick look at what the CFO, Mr. Devang Gheewalla of Kotak Mahindra Bank says👇 @KotakBankLtd https://t.co/PzVy8velo5
#Q4WithETNOW | Kotak Bank releases its Q4FY24 updates. Here’s what the management has to say | @KotakBankLtd https://t.co/iIzhzeUHoF
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Earnings With ETNOW | IDBI Bank Q4: PAT at Rs 1628 cr vs Rs 1133 cr YoY #Earnings @IDBI_Bank https://t.co/DqqqpJRFwi
India's Kotak Mahindra Bank beats estimates with 26% rise in Q4 net profit https://t.co/RoGYE8FBk6 https://t.co/FIUYDyYJxU
Earnings With ETNOW | Take a quick look at the earnings of Kotak Mahindra Bank👇 @KotakBankLtd https://t.co/nbe0QeXLQS
Q4 DOUBLE DELIGHT by this stock exchange! Dividend, Bonus details for shareholders https://t.co/ZPw1ogm919
#KotakMahindraBank Q4 Results PAT jumps 18% YoY to Rs 4,133 crore, NIM at 5.28% https://t.co/cTsBUpW0Ot
Smallcap Stock: Rs 15 DIVIDEND per share - Details https://t.co/7ST2XuZTiO
Stock dividend coming soon from this bank | ET NOW Q4 estimates, preview, expectations https://t.co/kLzroz9Sjc