Kotak Mahindra Bank Q2 results: Total income rise 36% to Rs 13,507.40 cr, PAT surges by 24% 

Kotak Mahindra Bank on Saturday reported a 36 per cent rise in its total income from operations to Rs 13,507.40 crore from Rs 12,868.93 in the same quarter in the last fiscal. The profit after tax also rose by 24 per cent for the quarter ended September to Rs 3,191 crore. In the year ago period, the bank had reported an over 27 per cent rise in its net profit.

Its net interest margin (NIM) was 5.22 per cent in the September quarter. The net interest income (NII) increased by 23.5 per cent on year to Rs 6,297 crore.

Its gross non-performing assets (NPA) ratio was at 1.72 per cent at the end of September, compared with 1.77 per cent at the end of June.

The annualised Return on Assets (RoA) for the quarter was 2.68 per cent, compared to 2.61 per cent a year ago. Return on Equity (RoE) for the quarter was 14.99 per cent, compared to 14.09 per cent a year ago.

Consolidated Capital Adequacy Ratio as per Basel-III was 22.9 per cent at the end of the quarter, and CET I ratio was 21.9 per cent.

The total assets managed/advised by the Group as of September 30, was Rs 4.98 lakh crore, up 28 per cent from the year-ago period. The Alternate Assets’ AUM increased by 61 per cent YoY to Rs 44,456 crore.

Customer Assets, which comprises advances and credit substitutes, increased by 18 per cent YoY to Rs 3.80 lakh crore as of September 30. Advances as of September end stood at Rs 3.57 lakh crore, registering a YoY growth of 21 per cent. 

The current account savings account (CASA) ratio as of September end stood at 48.3 per cent. Average current deposits grew to Rs 58,351 crore in the quarter, from Rs 53,971 crore a year ago.

Kotak Bank's average savings deposits stood at Rs 1.22 lakh crore as of September 30. Average term deposit rose 47 per cent on year to Rs 1.39 lakh crore.

The results have met the estimates. Analysts at StoxBox Brokerage had predicted Kotak Mahindra Bank to report 24.2 per cent rise in profit at Rs 3,205 crore on 24.7 per cent rise in NII at Rs 6,358 crore. 

The shares of Kotak Mahindra Bank ended 1.81 per cent lower at Rs 1,770 on Friday.

Also read: YES Bank reports strong 47.4% rise in Q2 net profit, asset quality improved as well