Kotak Mahindra Bank loses â¹9,800cr after 1st quarter results
Kotak Mahindra Bank lost â¹9,873 crore in market capitalisation on Thursday after it reported a nearly 9% quarter-on-quarter decline in net profit to â¹1,025 crore for first quarter of FY19. The bank's shares plunged 3.69%, taking its valuation to â¹2.57 trillion. The bank's gross bad loans as a percentage of total loans improved to 2.17% from 2.22% in last quarter.