Kotak Mahindra Bank Q4 profit beats Street estimates; key highlights

NEW DELHI: A sharp fall in provisions lifted standalone profit of Kotak Mahindra Bank by 25.24 per cent to Rs 1,407.80 crore in March quarter, beating analysts’ projection of Rs 1,380 crore net in an ET NOW Poll.

Here are the key highlights from the bank’s quarterly numbers:

· Net Interest Income (NII) rose 18.13 per cent YoY to Rs 3,048 crore from Rs 2,580 crore in the same quarter last year.


· Profit after tax (PAT) climbed 25 per cent YoY to Rs 1,408 crore from Rs 1,124 crore in the year-ago quarter.

· The bank’s standalone operating profit jumped 13 per cent to Rs 2,282.26 crore from Rs 2,017.95 crore.

· NIM for the quarter came in at 4.48 per cent against 4.3 per cent sequentially and 4.4 per cent in the year-ago period.

· Gross non-performing assets for the quarter stood at 2.14 per cent; net NPA at 0.75 per cent.

· The bank board has recommended a dividend of Re 0.80 per equity share.

· Consolidated profit increased 13.91 per cent YoY to Rs 2,038.27 crore against Rs 1,789.24 crore.

· The lender said its CASA ratio stood at 52.5 per cent compared with 50.8 per cent in the corresponding quarter last year.

· As on March 31, capital adequacy ratio as per Basel III stood at 17.5 per cent and Tier I ratio was at 16.9 per cent.

· Advances were up 21 per cent at Rs 2,05,695 crore against Rs 1,69,718 crore as on March 31, 2018.

· CASA ratio stood at 52.5 per cent against 50.8 per cent YoY.

· Average savings deposits rose 25 per cent to Rs 76,289 crore from Rs 61,223 crore in the year-ago period.

· Average current account deposits jumped 14 per cent to Rs 30,926 crore against Rs 27,024 crore.

· The bank had a network of 1,500 full-fledged branches and 2,352 ATMs as of March 31.