Total income up 15% YoY to Rs 99 bn; Gross NPA at 1.93% for the quarter, against 2.24% a year ago and 1.95% in the immediately preceding quarter ended March 2018.
Profit after tax at the consolidated level rose to Rs 15.74 billion for the quarter ended June 2018, from Rs 13.47 billion in the year-ago period. Total consolidated income rose 15 per cent year-on-year (YoY) to Rs 99 billion.
At the standalone level, the bank reported a 12.3 per cent rise in net profit to Rs 10.25 billion, against Rs 9.13 billion in the year-ago quarter. Gross non-performing assets (NPAs), as a percentage of total advances on a consolidated basis, fell to 1.93 per cent for the quarter, against 2.24 per cent in the year-ago quarter and 1.95 per cent in the previous March quarter.
Net NPA stood at 0.77 per cent for the present quarter, against 1.07 per cent in the year-ago quarter and 0.86 per cent in the March quarter. Net interest margin for June 2018 quarter stood at 4.2 per cent, against 4.3 per cent in the previous March quarter and 4.5 per cent in the year-ago quarter.
The bank expects strong loan book growth going forward. “We expect a loan growth in 20 per cent range and margins to stabilise in the 4.1–4.3 per cent range,” said Jaimin Bhatt, president and chief financial officer, Kotak Mahindra Bank.
Kotak Mahindra Bank consolidated Q1 net up 17% to Rs 15.74 bn. At the standalone level, its provisioning more than doubled from Rs 2.04 billion to Rs 4.70 billion on account of worries in the small and medium enterprise (SME) segment and also mark-to-market (MTM) hit on its gilt portfolio.
No comments:
Post a Comment