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Private lender Kotak Mahindra Bank Ltd on Saturday (October 19) reported a 4.8% year-on-year (YoY) increase in net profit at ₹3,343.7 crore for the second quarter that September 30, 2024.
NSE In the corresponding quarter of the previous fiscal, Kotak Mahindra Bank posted a net profit of ₹3,191 crore, the bank said in a regulatory filing. The CNBC-TV18 poll had predicted a profit of ₹3,513 crore for the quarter under review. Net interest income Net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, was up 11%, coming at ₹7,020 crore crore against ₹6,297 crore in the corresponding quarter of FY24.
Also Read: Oberoi Realty Q2 Results | Net profit jumps 28% to ₹589 crore, declares second interim dividend For the second quarter of FY25, the Net Interest Margin (NIM) stood at 4.91%. In addition, the fees and services income for Q2FY25 saw an increase, rising by 14% year-on-year to ₹ 2,312 crore, compared to ₹ 2,026 crore in Q2FY24.
The operating profit for Q2 of FY25 reached ₹5,099 crore, up 11% from ₹ 4,610 crore in the same quarter of the previous fiscal year. The bank's customers as of September 30, 2024, were 5.2 crore (4.
6 crore as of September 30, 2023). Customer assets, which comprise Advances (including IBPC & BRDS) and Credit Substitutes, increased by 18% year-on-year to ₹450,064 crore as of September 30, 2024, from ₹380,412 crore as of September 30, 2023. Advances (including IBPC & BRDS) increased 17% year-on-year to ₹ 419,108 crore as of September 30, 2024, from ₹ 357,012 crore as of September 30, 2023.
At the consolidated level, the Return on Assets (ROA) for Q2 of FY25 (annualised) was 2.53% (2.68% for Q2 of FY24).
Return on Equity (ROE) for Q2 of FY25 (annualised) was 13.88% (14.99% for Q2 of FY24).
Consolidated Capital Adequacy Ratio as per Basel III as of September 30, 2024, was 22.6% and the CET I ratio was 21.7% (including unaudited profits).
Also Read: Mastek Q2 Results | Net profit zooms 105% to ₹129 crore, revenue up 13% to ₹867 crore Consolidated net worth as of September 30, 2024, was ₹147,214 crore (including an increase in reserves due to RBI's Master Direction on the Bank’s investment valuation of ₹4,777 crore and gain on KGI divestment of ₹2,730 crore). The Book Value per Share on September 30, 2024, was ₹740 (₹605 on September 30, 2023). Consolidated Customer Assets which comprise Advances (including IBPC & BRDS) and Credit Substitutes grew to ₹510,598 crore as of September 30, 2024, from ₹428,404 crore as of September 30, 2023, up 19% year-on-year.
Total Assets Under Management as of September 30, 2024, were ₹680,838 crore up 37% year-on-year over ₹498,342 crore as of September 30, 2023. The results came after the close of the market hours. On Friday (October 18), shares of Kotak Mahindra Bank Ltd ended at ₹1,869.
80, up by ₹5.90, or 0.32% on the BSE.
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