Kotak Mahindra Bank Q2 FY26 – Steady Growth in Operating Profit, Margins Strengthen

Kotak Mahindra Bank reported a stable quarter with moderate revenue growth and strong operating performance, though net profit declined YoY due to higher provisions and base effect. • Sales: ↑ 5% YoY to ₹17,199 crore (vs ₹16,427 crore in Sep 2024) • EBIDT: ↑ 68% YoY to ₹5,593 crore (vs ₹3,333 crore) • Net Profit: ↓ 11% YoY to ₹4,468 crore (vs ₹5,044 crore) • EPS: ↓ 11% YoY to ₹22.47 (vs ₹25.37) At a price of ₹2,187, market cap ₹4.35 lakh crore, and PE 23.4, the bank maintains healthy valuations with strong operating leverage. Despite a dip in profitability, the robust EBIDT growth indicates improving efficiency and sustained business momentum.