Top gainer: NTPC 375 ▲ 10 (+2.9%)
Top loser: Wipro 505 ▼ 51 (-9.3%)
Kotak Mahindra Bank shares down 3% despite 81% YoY jump in Q1 net profit
Kotak Mahindra Bank reported an 81% year-on-year (YoY) rise in its Q1 net profit to ₹6,250 crore, while the total net interest income (NII) saw a growth of 10% YoY to ₹6,842 crore. The bank’s total net income during the quarter was up 10% YoY to ₹9,771 crore. Despite the jump in net profit and NII, shares of Kotak Mahindra were trading lower by over 2% on Monday. Read more
Reliance shares fall over 2% after Q1 net profit declines 5%
Reliance on Friday reported a 5% decline in its June quarter consolidated net profit attributable to the company’s owners at ₹15,138 crore as against ₹16,011 crore in the year-ago period. Sequentially, net profit declined 20% from ₹18,951 crore in Q4 FY24. Read more
HDFC Bank shares rise after 35% YoY jump in Q1 net profit
On Saturday, HDFC Bank had posted its results for the June 2024 quarter. The standalone net profit increased 35.3% year-on-year (YoY) to ₹16,175 crore, as compared to ₹11,952 crore in Q1FY24. Shares of HDFC Bank opened in the green on Monday, July 22, in the aftermath of the private lender posting a year-on-year rise in net profit and net interest income for the first quarter of fiscal year 2024-25. Read more