Kotak Mahindra Bank - Q3FY13 Result First-Cut - Microsec

Kotak Mahindra Bank Ltd has announced its Q3FY13 result on 22nd January 2013.

The bank's total income decreased by 0.37% QoQ while, increased by 35.63% YoY to INR2577.19 crores, driven by robust YoY growth in its Net Interest Income (NII) and Other Income by 23.19% and 49.43% respectively. Whereas, Profit After Tax (PAT) increased by 14.90% QoQ and 24.77% YoY to INR577.21 crores. During the quarter, bank has increased its Provision by 30.25% YoY to INR58.90 crores.

Bank's loans book and total deposits expanded by 26.33% and 34.23% YoY to INR50245 and INR51524 crores respectively. On the asset quality front, the bank's has improved its asset quality. GNPA decreased by 13bps QoQ and 5bps YoY to 1.22% whereas, NNPA decreased by 9bps QoQ and increased by 7bps YoY to 0.54%. Moreover, bank is well capitalized to support its growth trajectory, Capital Adequacy Ratio (CAR) improved by 23bps QoQ to 15.63% which is almost 6.63% higher than the regulator's stipulated norm. On the margin front, Net Interest Margin (NIM) declined by 10bps on sequential as well as yearly basis to 4.60%. Moreover, bank has improved its Provision Coverage Ratio (PCR) by 190bps QoQ to 66.60%. However, bank's low cost deposits base (CASA ratio) declined by 117bps QoQ and 172bps YoY to 25.93%.

Source : Equity Bulls

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