/ Kotak Mahindra Bank Q1FY18 Standalone Net Profit Rises 23% yoy To Rs.912 Crore ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 20 July 2017

Kotak Mahindra Bank reported its Q1FY18 results earlier today. It is the fourth largest Indian private bank in terms of market capitalization. The banks result misses the street estimate on net profit . NII was marginally higher than the estimated figure of Rs. 2240 crore. The Net profit came in 12.3% below the estimated figure of Rs. 1041 crore.

Kotak Mahindra Bank’s Q1FY18 standalone NII for the period came in at Rs. 2245 crore showing a 17% yoy growth. This was aided by strong loan book growth at 17% yoy to Rs.142359 crore in Q1FY18 and NIM for Q1FY18 was 4.5% versus 4.4% in Q1FY17.Gross NPA’s for the period recorded a 22% yoy jump to Rs.3726 crore. Asset quality measured in terms of gross NPA as a percentage of gross advances increased marginally by 8bps to 2.58% as against 2.5% in Q1FY17.

Provisions for bad loans made during the quarter increased 13.5% yoy to Rs.203 crore in Q1FY18 vs Rs.179 crore in Q1FY17.The Banks net profit for the quarter came 23% higher to Rs.912 crore in Q1FY18 vs Rs.741 crore in Q1FY17.The banks CASA ratio improved to 43.9% in Q1FY18 versus 37.4% in the corresponding period last fiscal. And, it’s capital adequacy ratio (CAR) according to Basel-III norms stood at 19.7% in Q1FY18 versus 16.8% in Q1FY17.
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