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Kotak Mahindra Bank posts Rs. 2575.74 crores consolidated PAT in Q3 FY2020-21

Posted On: 2021-01-25 01:15:51 (Time Zone: Arizona, USA)


KOTAK MAHINDRA BANK LTD. has reported financial results for the period ended December 31, 2020.

Financial Results (Q3 FY20-21) - QoQ Comparison

The company has reported total income of Rs.14834.99 crores during the period ended December 31, 2020 as compared to Rs.13591.41 crores during the period ended September 30, 2020.

The company has posted net profit / (loss) of Rs.2575.74 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.2933.46 crores for the period ended September 30, 2020.

The company has reported EPS of Rs.13.14 for the period ended December 31, 2020 as compared to Rs.14.89 for the period ended September 30, 2020.

FinancialsQ3 FY20-21Q2 FY20-21% Change
Total Income₹ 14834.99 crs₹ 13591.41 crsUp Tick 9.15%
Net Profit₹ 2575.74 crs₹ 2933.46 crsDown Tick -12.19%
EPS₹ 13.14₹ 14.89Down Tick -11.75%

Financial Results (Q3 FY20-21) - YoY Comparison

The company has reported total income of Rs.14834.99 crores during the period ended December 31, 2020 as compared to Rs.13542.43 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.2575.74 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.2329.33 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.13.14 for the period ended December 31, 2020 as compared to Rs.12.28 for the period ended December 31, 2019.

FinancialsQ3 FY20-21Q3 FY19-20% Change
Total Income₹ 14834.99 crs₹ 13542.43 crsUp Tick 9.54%
Net Profit₹ 2575.74 crs₹ 2329.33 crsUp Tick 10.58%
EPS₹ 13.14₹ 12.28Up Tick 7%

Financial Results (9 Months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.40749.55 crores during the 9 months period ended December 31, 2020 as compared to Rs.38214.98 crores during the 9 months period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.7349.64 crores for the 9 months period ended December 31, 2020 as against net profit / (loss) of Rs.6655.26 crores for the 9 months period ended December 31, 2019.

The company has reported EPS of Rs.37.64 for the 9 months period ended December 31, 2020 as compared to Rs.34.97 for the 9 months period ended December 31, 2019.

Financials9 Months ended FY20-219 Months ended FY19-20% Change
Total Income₹ 40749.55 crs₹ 38214.98 crsUp Tick 6.63%
Net Profit₹ 7349.64 crs₹ 6655.26 crsUp Tick 10.43%
EPS₹ 37.64₹34.97Up Tick 7.64%

- Net Interest Income (NII) for Q3FY21 increased to Rs. 4,007 crore, from Rs. 3,430 crore in Q3FY20, up 17%. Net Interest Margin (NIM) for Q3FY21 was at 4.51%.

- CASA ratio as at December 31, 2020 stood at 58.9% compared to 53.7% as at December 31, 2019.

- Average Savings deposits grew by 29% to Rs. 107,363 crore for 9MFY21 compared to Rs. 83,049 crore for 9MFY20. Average Current Account deposits grew by 13% to Rs. 37,533 crore for 9MFY21 compared to Rs. 33,258 crore for 9MFY20.

- CASA and TDs below Rs. 5 crore as at December 31, 2020, constituted 92% of total deposits (87% as at December 31, 2019). TD Sweep deposits as at December 31, 2020 were 8.1% of total deposits (7.4% as at December 31, 2019).

- Advances as at December 31, 2020 were at Rs. 214,103 crore (Rs. 204,845 crore as at September 30, 2020 and Rs. 216,774 crore as at December 31, 2019). Customer Assets, which includes Advances and Creditsubstitutes, were Rs. 228,809 crore as at December 31, 2020 (Rs. 218,790 crore as at September 30, 2020 and Rs. 227,206 crore as at December 31, 2019).

- Operating profit for Q3FY21 was Rs. 3,083 crore, up 29% from Rs. 2,388 crore in Q3FY20.

- COVID related provisions as at December 31, 2020 stood at Rs. 1,279 crore. In accordance with the Resolution Framework for COVID-19 announced by RBI on August 6, 2020, as at December 31, 2020, the Bank has approved, for certain eligible borrowers, one-time restructuring of 0.28% of net advances.

- As at December 31, 2020, GNPA was 2.26% & NNPA was 0.50%. The Bank has not classified any NPAs since August 31, 2020, basisthe interim order of Hon. Supreme Court. Had the Bank classified the borrowers more than 90 days overdue on December 31, 2020 as NPA, GNPA would be 3.27% (September 30, 2020: 2.70%); NNPA would be 1.24% (September 30, 2020: 0.74%). The Bank has, however, made provision for such advances including towards interest accrued but not collected for the entire period, with moratorium.

- Capital adequacy ratio of the Bank as per Basel III, as at December 31, 2020 was 21.5% and Tier I ratio was 20.9%.

Shares of KOTAK MAHINDRA BANK LTD. was last trading in BSE at Rs.1831.2 as compared to the previous close of Rs. 1858.65. The total number of shares traded during the day was 189751 in over 11315 trades.

The stock hit an intraday high of Rs. 1868.85 and intraday low of 1825. The net turnover during the day was Rs. 349338770.


Source: Equity Bulls

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