Kotak Mahindra Bank Ltd Share Price – NSE /  BSE

Banks, Mid Cap

The private sector bank had announced its second quarter financials on Saturday (21 October 2024).

The bank’s standalone net profit rose 4.78% to Rs 3,343.72 crore on 17.71% rise in total income to Rs 15,900.46 crore in Q2 FY25 over Q2 FY24.

Profit before tax increased 4.60% year on year (YoY) to Rs 4,438.86 crore in the quarter ended 30 September 2024.

Net Interest Income (NII) for Q2 FY25 stood at Rs 7,020 crore, up 11% from Rs 6,297 crore recorded in Q2 FY24. Net interest margin (NIM) was 4.91% for Q2FY25.

Operating profit was at Rs 5,099 crore during the quarter, up 11% as against Rs 4,610 crore reported in Q2 FY24.

Fees and services grew by 14% YoY to Rs 2,312 crore in the quarter ended 30 September 2024. Customers as on 30 September 2024 were 5.2 crore as compared to Rs 4.6 crore as on 30 September 2023.

Customer assets increased by 18% YoY to Rs 450,064 crore as at 30 September 2024 from Rs 380,412 crore as at 30 September 2023. Advances rose by 17% YoY to Rs 419,108 crore as at 30 September 2024 from Rs 357,012 crore as at 30 September 2023.

On asset quality front, the gross non-performing asset (GNPA) ratio was 1.49% as of 30 September 2024, compared to 1.39% as of 30 June 2024 and 1.72% as of 30 September 2023.

The net non-performing assets (NNPA) ratio stood at 0.43% as of 30 September 2024, up from 0.35% on 30 June 2024, and slightly higher than 0.37% as of 30 September 2023.

The provision coverage ratio stood at 71% in Q2 FY25. During the quarter, Slippages were at Rs 1,875 crore from Rs 1,314 crore reported in the same period a year ago.

Capital adequacy ratio of the bank, as per basel III, as at 30 September 2024 was 22.6% and CET1 ratio of 21.5% (including unaudited profits).

Return on assets (ROA) for Q2 FY25 (annualized) was 2.17% as against 2.45% registered in Q2 FY24.

On a consolidated basis, the bank's PAT for Q2 FY25 was Rs 5044.05 crore, up 13.06% YoY from Rs 4461.04 crore in Q2 FY24. At the consolidated level, the Return on assets (ROA) for Q2 FY25 (annualized) was 2.53% and Return on equity (ROE) for Q2 FY25 (annualized) stood at 13.88%.

Consolidated networth as at 30 September 2024 was at Rs 147,214 crore (including increase in reserves due to RBI’s Master Direction on Bank’s investment valuation of Rs 4,777 crore and gain on Kotak General Insurance (KGI) divestment of Rs 2,730 crore).

Total Assets Under Management as at 30 September 2024 were Rs 680,838 crore up 37% YoY over Rs 498,342 crore as at 30 September 2023. The Domestic MF equity AUM increase by 60% YoY to Rs 319,161 crore as at 30 September 2024.

Kotak Mahindra Bank is the flagship company of the Kotak Group and has diversified operations covering commercial vehicle financing, consumer loans, corporate finance and asset reconstruction. Through its subsidiaries, the bank is engaged in investment banking, equity broking, securities-based lending and car finance.

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Profit before tax increased 4.60% year on year (YoY) to Rs 4,438.86 crore in the quarter ended 30 September 2024.

Net Interest Income (NII) for Q2 FY25 stood at Rs 7,020 crore, up 11% from Rs 6,297 crore recorded in Q2 FY24. Net interest margin (NIM) was 4.91% for Q2FY25.

Operating profit was at Rs 5,099 crore during the quarter, up 11% as against Rs 4,610 crore reported in Q2 FY24.

Fees and services grew by 14% YoY to Rs 2,312 crore in the quarter ended 30 September 2024. Customers as on 30 September 2024 were 5.2 crore as compared to Rs 4.6 crore as on 30 September 2023.

Customer assets increased by 18% YoY to Rs 450,064 crore as at 30 September 2024 from Rs 380,412 crore as at 30 September 2023. Advances rose by 17% YoY to Rs 419,108 crore as at 30 September 2024 from Rs 357,012 crore as at 30 September 2023.

On asset quality front, the gross non-performing asset (GNPA) ratio was 1.49% as of 30 September 2024, compared to 1.39% as of 30 June 2024 and 1.72% as of 30 September 2023.

The net non-performing assets (NNPA) ratio stood at 0.43% as of 30 September 2024, up from 0.35% on 30 June 2024, and slightly higher than 0.37% as of 30 September 2023.

The provision coverage ratio stood at 71% in Q2 FY25. During the quarter, Slippages were at Rs 1,875 crore from Rs 1,314 crore reported in the same period a year ago.

Capital adequacy ratio of the bank, as per basel III, as at 30 September 2024 was 22.6% and CET1 ratio of 21.5% (including unaudited profits).

Return on assets (ROA) for Q2 FY25 (annualized) was 2.17% as against 2.45% registered in Q2 FY24.

On a consolidated basis, the bank's PAT for Q2 FY25 was Rs 5044.05 crore, up 13.06% YoY from Rs 4461.04 crore in Q2 FY24. At the consolidated level, the Return on assets (ROA) for Q2 FY25 (annualized) was 2.53% and Return on equity (ROE) for Q2 FY25 (annualized) stood at 13.88%.

Consolidated networth as at 30 September 2024 was at Rs 147,214 crore (including increase in reserves due to RBI’s Master Direction on Bank’s investment valuation of Rs 4,777 crore and gain on Kotak General Insurance (KGI) divestment of Rs 2,730 crore).

Total Assets Under Management as at 30 September 2024 were Rs 680,838 crore up 37% YoY over Rs 498,342 crore as at 30 September 2023. The Domestic MF equity AUM increase by 60% YoY to Rs 319,161 crore as at 30 September 2024.

Kotak Mahindra Bank is the flagship company of the Kotak Group and has diversified operations covering commercial vehicle financing, consumer loans, corporate finance and asset reconstruction. Through its subsidiaries, the bank is engaged in investment banking, equity broking, securities-based lending and car finance.

The counter rose 0.32% to end at Rs 1,869.80 on Friday, 18 September 2024.

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Net profit of Kotak Mahindra Bank rose 13.07% to Rs 5044.05 crore in the quarter ended September 2024 as against Rs 4461.04 crore during the previous quarter ended September 2023. Total Operating Income rose 19.76% to Rs 16426.97 crore in the quarter ended September 2024 as against Rs 13716.56 crore during the previous quarter ended September 2023.

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Kotak Mahindra Bank has entered into a definitive agreement with Standard Chartered Bank, India for acquisition of its Personal Loan book (total loan outstanding of around Rs 4,100 crore as of 30 September 2024).

The above transaction is expected to be completed over the next three months and is subject to regulatory and other approvals and the satisfaction or waiver of customary closing conditions.

The Bank will acquire the Personal Loan book which will be outstanding closer to the completion date.

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