KOTAKBANK · Financial Services
Kotak Mahindra Bank Ltd. reported total income of ₹15,837 cr for April to June 2024, +23.1% on the year and +4.5% on the quarter.
Net interest income, interest earned less interest paid, was ₹9,032 cr, +12.4% on the year and +1.0% on the quarter. For a lender this is the core earnings line: it shows whether the loan book and its pricing are growing faster than the cost of funds.
Net profit was ₹7,448 cr, +79.5% on the year and +39.6% on the quarter, with earnings per share of ₹7.49. The tax rate of 25% is in line with its recent average.
An NBFC's quarter turns on loan growth, its cost of borrowing and credit costs; profit can rise for a while simply because provisions fall. The quarterly statements do not carry AUM growth, stage 2 and 3 assets, credit cost and the cost of funds; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
Profit grew much faster than net interest income. Lower provisions, treasury gains or tax?
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed, Asset quality (lenders), Net interest margin (lenders). Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
Lenders are read on NIM, asset quality, provision cover and credit cost. Those come from the filing read, which is not in yet for this quarter, so margin, other-income and cash checks are withheld rather than shown on a template built for manufacturers.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total income | ₹14,495 cr | ₹15,156 cr | ₹15,837 cr | ₹16,427 cr | ₹16,633 cr | ₹16,772 cr | ₹17,248 cr | ₹17,199 cr | ₹17,507 cr | ₹17,827 cr | ₹18,355 cr | ₹19,856 cr |
| YoY | — | — | +23% | +20% | +15% | +11% | +9% | +5% | +5% | +6% | +6% | +15% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 25% | 23% | 25% | 25% | 25% | 23% | 27% | 25% | 25% | 27% | 27% | 25% |
| Net profit | ₹4,265 cr | ₹5,337 cr | ₹7,448 cr | ₹5,044 cr | ₹4,701 cr | ₹4,933 cr | ₹4,472 cr | ₹4,468 cr | ₹4,924 cr | ₹5,423 cr | ₹5,480 cr | ₹5,645 cr |
| YoY | — | — | +79% | +13% | +10% | −8% | −40% | −11% | +5% | +10% | +23% | +26% |
| EPS | ₹4.29 | ₹5.37 | ₹7.49 | ₹5.07 | ₹4.73 | ₹4.96 | ₹4.50 | ₹4.49 | ₹4.95 | ₹5.45 | ₹5.51 | ₹5.67 |
| Flags | · | · | 1 | · | · | · | · | · | · | · | · | · |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Kotak Mahindra Bank Ltd. reported total income of ₹15,837 cr (+23.1% on the year) and net profit of ₹7,448 cr (+79.5% on the year) for April to June 2024.
1 check raised a question: Profit grew much faster than net interest income. Lower provisions, treasury gains or tax?
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