New Delhi:Kotak Mahindra Bank on Saturday announced a 26% increase in profit after tax (PAT) to Rs 2,071 crore from Rs 1,642 crore in the same quarter last year.
The bank said net interest income (NII) rose 19% year-on-year to Rs 4,697 crore from Rs 3,942 crore in the previous quarter. Net Profit Margin (NIM) for the quarter was 4.92%.
Costs related to Covid are 482 million rubles. In line with the Covid-19 policy announced by the RBI, the bank has undertaken a share restructuring of Rs 379 crore or 0.14% of deposits.
Under the MSME structure, the standard balance sheet of the bank being restructured stood at 697 billion rupees, or 0.25 percent of deposits, as of June 30. As of June 30, gross assets fell by 2.24% and net assets by 0.62%. %.
Costs related to Covid are 482 million rubles. In line with the Covid-19 policy announced by the RBI, the bank has undertaken a share restructuring of Rs 379 crore or 0.14% of deposits.
The Q1 2023 advance rate is 16 basis points (annualized) (excluding covid and rescheduling/adjustments). The proposed coverage rate is 72.6%, the bank said in a BSE statement.
Client assets including advances and loan repayments increased by 29% to Rs 3,03,629 crore from Rs 235,340 crore on June 30. Overall, these advances increased by 29% to Rs 2,80,171 crore on June 30, from Rs 2,17,447 crore last quarter. The CASA ratio for the quarter was 58.1%.
Average current deposits increased by 19% in the quarter to Rs 55,081 crore from Rs 46,341 crore in the prior year’s quarter.
Meanwhile, on a consolidated basis, PAT increased by 53% to Rs 2,755 crore from Rs 1,806 crore in the previous quarter.
Kotak Mahindra Bank Q1 Results: YoY Net Profit Jumps 26.1% NII Jumps 19.2%
Kotak Mahindra Bank First Quarter 2023 Results: Kotak Mahindra Bank reported a significant year-on-year increase in net profit from April to June 2022 due to a significant reduction in provisions. The private lender reported a net profit of Rs 2,071.1 crore in Q1FY23. This was around 26.10% higher than its net profit of 1,641.9 kroner in Q1FY22.
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Kotak Mahindra Bank’s net profit margin for the quarter that ended June 2022 also increased by around 19.20% to Rs.
Kotak Mahindra Bank’s total revenue for Q1 FY2022-23 was Rs 11,658.94 crore compared to Rs 12,571.61 crore for Q1 FY2022.
Private lenders have also reported an increase in net impaired assets (NPA). For the April-June quarter of this financial year, Kotak Mahindra Bank’s total NPA increased to SEK 6,379 from SEK 6,470 in the previous quarter. the 4th. Kotak Mahindra Bank’s total NPA is now 2.24% in Q4 FY2023, up from 2.34% in Q4 FY22.
Kotak Mahindra Bank’s net profit margin for the quarter that ended June 2022 also increased by around 19.20% to Rs.
Kotak Mahindra Bank’s total revenue for Q1 FY2022-23 was Rs 11,658.94 crore compared to Rs 12,571.61 crore for Q1 FY2022.
However, net NPA increased by approximately 0.70% from INR 1,737 million in Q4 FY2022 to INR 1,749 million in Q1 FY2020. However, in percentage terms, Q4 2022 net NPA was 0.62% from Q1 2022 to Q1 2023 compared to 0.64% in Q4 2022.
In the first quarter of the financial year 2022-23, Kotak Mahindra Bank was able to cap operating expenses at Rs 4,960.01 crore compared to Rs 6,342.83 crore in the first quarter of the previous financial year.
Kotak Mahindra Bank’s provision (non-tax) and contingent liabilities decreased from Rs 858.67 crore in the April-June 2021 quarter to Rs 8.80 crore in the recently closed June 2022 quarter.
Kotak Mahindra Bank First Quarter Results from 2022
Kotak Mahindra Bank announced its results for the financial year 1Q 23 on July 23, 2022. The bank reported a net profit of Rs.207.1 billion for the first quarter of FY23, up 26% year-on-year. This includes Rs 1,642 million in the fourth quarter. Net profit fell nearly 25% QoQ to Rs.2,071 million compared to Rs.2,767 million in the previous quarter.
The bank’s net interest income (NII) was Rs 469.7 crore, up 19% from Rs 394.2 crore in the same period last year.
In the quarter under review, Kotak Mahindra Bank’s assets increased from SEK 2.63 million in the previous year. Meanwhile, non-performing net assets were 0.62%, up from 0.64% in the most recent quarter and 1.28% a year earlier.
Kotak Mahindra Bank shares closed at Rs 1,827.10 after gaining 1.47% in intraday trade on July 22, 2022, ahead of the company’s quarterly results.
Kotak Mahindra reports fourth-quarter results
Net profit rose 26% to Rs.207.1 billion in the first quarter of fiscal 2023.
Net Interest Income (NII) was Rs 469.7 crore, up 19% from Rs 394.2 crore in the same period last year.
Total revenue increased to $5,941 million from $5,293 million in the previous quarter.
As of June 30, 2022, the Basel III solvency ratio (CAR) was 23.3% and the CET I ratio was 22.4%.
Net profit rose 26% to Rs.207.1 billion in the first quarter of fiscal 2023.
Net Interest Income (NII) was Rs 469.7 crore, up 19% from Rs 394.2 crore in the same period last year.
Miss Kotak Mahindra Q1 2023 Results
Net income fell 25% to INR 207.1 billion from INR 276.7 billion in the previous quarter.
NII is stable almost all the time
Operating income of $2,783 million decreased to $3,340 million in the prior year from $2,890 million in the prior year.
Kotak Mahindra First Quarter Revenue by Segment
- Corporate Banking: Revenue rose 11% to Rs.351.7 billion from Rs.316.6 billion a year ago.
- Retail banking: Revenue increased 2% to 4,240 million from 3,477 million a year earlier.
- Treasury Department: Revenue fell 32% to $1.496 billion from $2.26 billion a year earlier.
Details of Kotak Mahindra Bank
Kotak Mahindra Bank’s P/E is 30.00 compared to the industry average of 19.43.
The bank’s P/E is 4.22 compared to the industry average of 2.11.
Kotak Mahindra Bank’s dividend yield is 0.06%, compared to the industry average of 0.94%.