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Nearly 65% of the 43 analysts that have coverage on Kotak Mahindra Bank continue to recommend “buying” the stock after its September quarter results that were reported over the weekend.

The results were largely in-line with expectations with marginal improvement in asset quality and a decline in profitability, both for the bank, and for most of its subsidiaries on a year-on-year basis.

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The Hyderabad-based drug major reported a net profit of ₹1,347 crore for the September quarter (Q2 FY26), up 7.3% year-on-year from ₹1,256 crore, though slightly below the CNBC-TV18 poll estimate of ₹1,403.7 crore. The company’s revenue increased 9.8% YoY to ₹8,828 crore, compared with ₹8,038 crore in the same period last year, surpassing the poll estimate of ₹8,595.4 crore.

Kotak Mahindra Bank’s net interest income grew by 4% from last year to ₹7,311 crore, while its net profit saw a drop of 3% from the year-ago period to ₹3,253 crore. Advances grew by nearly 16% from last year, while deposit growth stood at 14.6%. Asset quality saw a marginal improvement from the previous quarter, provisions were down on a sequential basis, while Net Interest Margins (NIMs) declined by 11 basis points from last year. The management said during its earnings call that it has completed its due diligence to acquire the government’s stake in IDBI Bank.

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