Kotak Mahindra Q4 Results: Key Takeaways of Bank's Net Profit
Kotak Mahindra Bank’s net interest income (NII) rose 18% to Rs3,048 crore against Rs2,580 crore in the same quarter last year.
A man walks past the Kotak Mahindra Bank branch in New Delhi. (Image: Reuters)
Kotak Mahindra Bank shares inched up 0.4% to Rs 1,385 apiece on BSE on Tuesday after the lender announced its March quarter earnings. Here are key takeaways from the bank’s Q4 numbers:
-- Kotak Mahindra Bank’s net profit jumped 25.24% to Rs 1,407.80 crore for the March quarter compared with Rs 1,124.05 crore during the year-ago quarter.
-- Kotak Mahindra Bank’s net interest income (NII) rose 18% to Rs 3,048 crore against Rs 2,580 crore in the same quarter last year.
-- Total income increased 18.5% to Rs7,672.56 crore for the March quarter.
-- Gross non-performing assets (NPAs) as a percentage of total advances increased to 2.14% at the end of March, from 2.07% in the previous quarter.
-- Net NPA ratio stood at 0.75% at the end of March versus 0.71% in the previous quarter.
-- In absolute terms, Kotak Mahindra Bank’s net NPA was at Rs1,544.4 crore, while gross NPA was at Rs4,468 crore.
-- Kotak Mahindra Bank’s net interest margin stood at 4.48% for the March quarter and 4.33% for 2018-19.
-- Kotak Mahindra Bank’s CASA ratio stood at 52.5% at the end of March 2019 compared with 50.8% at the end of FY18. A higher CASA ratio indicates lower cost of funds and is a positive for any bank, because lenders do not usually give any interests on current account deposits and the interest on saving accounts is also very low (3-4%).
-- Other income rose to Rs1,270 crore in the March quarter compared with Rs1,151 crore a year ago.
-- The board recommended a dividend of Rs. 0.80 per equity share for the year ended March.
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