Kotak Mahindra Bank shares end 4 pc lower

New Delhi: Shares of private sector lender Kotak Mahindra Bank ended 4 per cent lower on Monday after the company's June quarter results. The stock plunged 3.88 per cent to close at Rs 1,893.85 apiece on the NSE. On the BSE, it slumped 3.80 per cent to settle at Rs 1,896.15 per piece. In volume terms, 70.33 lakh equity shares of the firm were traded on the NSE and 1.56 lakh shares on the BSE.

Meanwhile, the 30-share BSE Sensex settled 299.48 points or 0.45 per cent lower at 66,384.78 points on Monday. On Saturday, Kotak Mahindra Bank reported a massive 67 per cent on-year jump in standalone net income at Rs 3,452 crore for the June quarter. On a consolidated level, the profit, which includes net gains from its brokerage/i-banking, ARC, wealth management and insurance businesses, grew 51 per cent to Rs 4,150 crore, the company said in a regulatory filing.

However, Kotak Mahindra Bank deputy managing director Dipak Gupta, during the earnings call, had guided towards lower margins as the bank will have to reprice deposits again and pegged 5.25 per cent as a reasonable margin for the full-year. Its key net interest income increased 33 per cent to Rs 6,234 crore driven by a 5.57 per cent higher net interest margin for the reporting quarter. Fees and servi