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Kotak Bank share price slumped by 6% during Monday's trading session after the private bank reported a 7.57% decrease in consolidated net profit, amounting to ₹4,933 crore for the March quarter of FY2024-25, largely due to increased pressure in the microlending sector.

The bank's core net interest income increased by 5% to ₹7,284 crore in the reported quarter, while other income rose by 7% to ₹3,182 crore. Customer assets grew by 13%, although the net interest margin significantly narrowed to 4.97% compared to 5.28% in the same period last year. Additionally, on a consolidated basis, Kotak Mahindra Bank's total income declined to ₹27,174 crore from ₹27,907 crore in the fourth quarter of the previous fiscal year.

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