Kotak Mahindra Bank Ltd consolidated Q3 FY2024 PAT at Rs. 4264.78 crores

Kotak Mahindra Bank Limited has reported Consolidated financial results for the period ended December 31, 2023.

Financial Results (Q3 FY2024) - QoQ Comparison

The company has reported total income of Rs. 24083.15 crores during the period ended December 31, 2023 as compared to Rs. 21559.52 crores during the period ended September 30, 2023.

The company has posted net profit / (loss) of Rs. 4264.78 crores for the period ended December 31, 2023 as against net profit / (loss) of Rs. 4461.04 crores for the period ended September 30, 2023.

The company has reported EPS of Rs. 21.46 for the period ended December 31, 2023 as compared to Rs. 22.45 for the period ended September 30, 2023.

Financials	Q3 FY2024	Q2 FY2024	% Change
Total Income	₹ 24083.15 crs	₹21559.52 crs	11.71%
Net Profit	₹4264.78 crs	₹4461.04 crs	-4.40%
EPS	₹21.46	₹22.45	-4.41%

Financial Results (Q3 FY2024) - YoY Comparison

The company has reported total income of Rs. 24083.15 crores during the period ended December 31, 2023 as compared to Rs.18371.64 crores during the period ended December 31, 2022.

The company has posted net profit / (loss) of Rs.4264.78 crores for the period ended December 31, 2023 as against net profit / (loss) of Rs.3995.05 crores for the period ended December 31, 2022.

The company has reported EPS of Rs.21.46 for the period ended December 31, 2023 as compared to Rs.20.11 for the period ended December 31, 2022.

Financials	Q3 FY2024	Q3 FY2023	% Change
Total Income	₹ 24083.15 crs	₹18371.64 crs	31.09%
Net Profit	₹4264.78 crs	₹3995.05 crs	6.75%
EPS	₹21.46	₹20.11	6.71%

Financial Results (9 Months Ended FY2024) - YoY Comparison

The company has reported total income of Rs.66366.58 crores during the 9 Months period ended December 31, 2023 as compared to Rs.47375.52 crores during the 9 Months period ended December 31, 2022.

The company has posted net profit / (loss) of Rs.12876.01 crores for the 9 Months period ended December 31, 2023 as against net profit / (loss) of Rs.10358.62 crores for the 9 Months period ended December 31, 2022.

The company has reported EPS of Rs.64.79 for the 9 Months period ended December 31, 2023 as compared to Rs.52.16 for the 9 Months period ended December 31, 2022.

Financials	9 Months Ended FY2024	9 Months Ended FY2023	% Change
Total Income	₹66366.58 crs	₹47375.52 crs	40.09%
Net Profit	₹12876.01 crs	₹10358.62 crs	24.30%
EPS	₹64.79	₹52.16	24.21%

Asset Quality:

Asset Quality	Q3 FY2024	Q2 FY2024	Q3 FY2023
Gross NPA	₹6981.15 crs	₹6765.74 crs	₹6730 crs
Gross NPA %	1.68%	1.69%	1.91%
Net NPA	₹1487.03 crs	₹1554.90 crs	₹1667.71 crs
Net NPA %	0.36%	0.39%	0.48%

Gross NPA was at ₹ 6981.15 crs in Q3 FY2024 against ₹ 6730 crs in Q3 FY2023. The same was at ₹ 6765.74 crs in Q2 FY2024.

Net NPA was at ₹ 1487.03 crs in Q3 FY2024 against ₹ 1667.71 crs in Q3 FY2023. The same was at ₹ 1554.90 crs in Q2 FY2024.

GNPA was at 1.68% of Gross advances as on December 31, 2023 as compared to 1.91% as on December 31, 2022 and 1.69% as of September 30, 2023.

Net NPA was at 0.36% of Gross advances as on December 31, 2023 as compared to 0.48% as on December 31, 2022 and 0.39% as of September 30, 2023.

Ratios	Q3 FY2024	Q2 FY2024	Q3 FY2023
RoA %	0.62%	0.67%	0.70%
CAR (BASEL III) %	19%	20.03%	19.66%

Return on Average Assets (RoA) is at 0.62% for Q3 FY2024 against 0.67% in Q2 FY2024 and 0.70% in Q3 FY2023.

In Q3 FY2024, Bank's total Capital Adequacy Ratio (CAR) was at 19%, as compared to 20.03% in Q2 FY2024 and 19.66% in Q3 FY2023.

Shares of Kotak Mahindra Bank Limited was last trading in BSE at Rs. 1765.75 as compared to the previous close of Rs. 1777.40. The total number of shares traded during the day was 1946421 in over 43370 trades.

The stock hit an intraday high of Rs. 1799.95 and intraday low of 1753.45. The net turnover during the day was Rs. 3456617883.00.

Source : Equity Bulls

Keywords

KotakMahindraBank Q3FY24 9MFY24 ResultUpdate