5Paisa, Kotak Mahindra Bank, banking stock, trending stock
Company has given a 21.65% return over the past year.
Kotak Mahindra Bank has reported results for the fourth quarter and year ended March 31, 2023, on April 29, 2023.
On a consolidated basis, the bank recorded a 17.33% increase in net profit for the fourth quarter that ended March 31, 2023, to Rs 4,566.39 crore, up from Rs 3,891.82 crore for the same quarter the year before. In Q4FY23, the bank's total revenue climbed by 24.31% to Rs 20,730.88 crore from Rs 16,676.33 crore in the same period the previous year.
The bank recorded a 23.46% increase in net profit for the year ended March 31, 2023, from Rs 12,089.39 crore to Rs 14,925.01 crore on a consolidated basis.
When compared to the year ended March 31, 2022, the bank's total revenue increased by 25.16% to Rs 41,333.90 crore from Rs 33,024.74 crore for the year under review. While on a consolidated basis, the bank's total revenue grew by 16.18% or Rs 67,981.02 crore from Rs 58,513.50 crore.
Share Price Moment:
On April 28, 2023, the scrip closed at Rs 1937.70 at BSE and today opened at Rs 1928 and currently trading at Rs 1912.50 and till now it has touched a high and low of Rs 1936.75 and Rs 1901.20, respectively. So far 70,387 shares were traded on the counter at BSE.
The BSE group 'A' stock of face value of Rs 5 and it has touched a 52-week high of Rs 1997 and a 52-week low of Rs 1630.
About the Company:
The Reserve Bank of India (RBI) granted the flagship firm of the group, Kotak Mahindra Finance Ltd., a licence to do banking activity in February 2003. With this clearance, Kotak Mahindra Financing Ltd became the first non-banking financing firm in India to transform into Kotak Mahindra Bank Ltd., making banking history. The bank is currently one of India's financial organisations with one of the fastest expanding financial sectors.
Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.
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