Kotak Mahindra Bank reported a 5 per cent year-on-year (YoY) rise in standalone profit after tax (PAT) for the July-September 2024 quarter, reaching ₹3,344 crore, compared to ₹3,191 crore in Q2FY24.
The bank’s net interest income (NII) for Q2FY25 rose 11 per cent YoY to ₹7,020 crore, up from ₹6,297 crore in the same period last year. However, the net interest margin (NIM) narrowed to 4.91 per cent, compared to 5.22 per cent in Q2FY24.
Asset quality, key Ratios
As of September 2024, the gross non-performing assets (GNPA) ratio improved to 1.49 per cent, down from 1.72 per cent a year ago. Net NPA stood at 0.43 per cent, slightly higher than 0.37 per cent in Q2FY24.
The bank reported a capital adequacy ratio of 22.6 per cent under Basel III norms, with a CET1 ratio of 21.5 per cent, including unaudited profits. Annualized return on assets (RoA) fell to 2.17 per cent down from 2.45 per cent in the same period last year.
Kotak’s total deposits rose 16 per cent YoY to ₹4,46,110 crore, while advances increased by 17 per cent to ₹4,19,108 crore. The bank’s CASA ratio also saw a slight improvement, rising to 43.6 per cent from 43.4 per cent in the previous quarter.
Consolidated performance
On a consolidated level, the bank’s PAT climbed 13 per cent YoY to ₹5,044 crore. Assets under management (AUM) as of September-end surged 37 per cent YoY to ₹6,80,838 crore, compared to ₹4,98,342 crore in Q2FY24.
Kotak Securities posted a PAT of ₹324 crore, down from ₹400 crore YoY, with its market share dipping to 11.6 per cent from 12.2 per cent. Meanwhile, Kotak Mahindra AMC’s PAT rose to ₹197 crore from ₹124 crore sequentially, with its AUM expanding 37 per cent YoY to ₹6,80,838 crore.
Kotak Mahindra Bank shares ended 0.32 per cent higher on Friday, closing at ₹1,869.80 on the BSE.
Source: Mint
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