Kotak Mahindra Bank’s standalone net profit for the June quarter experienced a significant drop of 47% year-on-year, settling at Rs 3,282 crore. Despite this decline, the bank’s net interest income saw a modest increase of 6% YoY, reaching Rs 7,259 crore. Average and Net advances also grew by 14% YoY, reaching Rs 444,823 crore.
US stocks: US market ends lower as tech stocks weigh on sentiment
Wall Street ended lower on Friday, with AI chip stocks experiencing a significant downturn while Moderna and other healthcare companies surged. Investors are weighing the