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Stock Report
Kotak Mahindra Bank Ltd Q2 consolidated net profit higher at Rs. 2933.46 crore
Posted On : 2020-10-26 14:54:19( TIMEZONE : IST )
KOTAK MAHINDRA BANK LTD. has reported financial results for the period ended September 30, 2020.
Financial Results (Q2 FY20-21) - QoQ Comparison
The company has reported total income of Rs.13591.41 crores during the period ended September 30, 2020 as compared to Rs.12323.15 crores during the period ended June 30, 2020.
The company has posted net profit / (loss) of Rs.2933.46 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.1840.44 crores for the period ended June 30, 2020.
The company has reported EPS of Rs.14.89 for the period ended September 30, 2020 as compared to Rs.9.56 for the period ended June 30, 2020.
| Financials | Q2 FY20-21 | Q1 FY20-21 | % Change |
| Total Income | ₹ 13591.41 crs | ₹ 12323.15 crs |  10.29% |
| Net Profit | ₹ 2933.46 crs | ₹ 1840.44 crs | 59.39% |
| EPS | ₹ 14.89 | ₹ 9.56 | 55.75% |
Financial Results (Q2 FY20-21) - YoY Comparison
The company has reported total income of Rs.13591.41 crores during the period ended September 30, 2020 as compared to Rs.12542.99 crores during the period ended September 30, 2019.
The company has posted net profit / (loss) of Rs.2933.46 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.2399.08 crores for the period ended September 30, 2019.
The company has reported EPS of Rs.14.89 for the period ended September 30, 2020 as compared to Rs.12.59 for the period ended September 30, 2019.
| Financials | Q2 FY20-21 | Q2 FY19-20 | % Change |
| Total Income | ₹ 13591.41 crs | ₹ 12542.99 crs | 8.36% |
| Net Profit | ₹ 2933.46 crs | ₹ 2399.08 crs | 22.27% |
| EPS | ₹ 14.89 | ₹ 12.59 | 18.27% |
Financial Results (6 months ended FY 20-21) - YoY Comparison
The company has reported total income of Rs.25914.56 crores during the 6 months period ended September 30, 2020 as compared to Rs.24672.55 crores during the 6 months period ended September 30, 2019.
The company has posted net profit / (loss) of Rs.4773.90 crores for the 6 months period ended September 30, 2020 as against net profit / (loss) of Rs.4325.93 crores for the 6 months period ended September 30, 2019.
The company has reported EPS of Rs.24.51 for the 6 months period ended September 30, 2020 as compared to Rs.22.70 for the 6 months period ended September 30, 2019.
| Financials | Half-Year Ended FY20-21 | Half-Year Ended FY19-20 | % Change |
| Total Income | ₹ 25914.56 crs | ₹ 24672.55 crs | 5.03% |
| Net Profit | ₹ 4773.90 crs | ₹ 4325.93 crs | 10.36% |
| EPS | ₹ 24.51 | ₹22.70 | 7.97% |
Net Interest Income (NII) for Q2FY21 increased to Rs.3,913 crore, from Rs.3,350 crore in Q2FY20, up 17%. Net Interest Margin (NIM) for Q2FY21 was at 4.52%.
CASA ratio as on September 30, 2020 stood at 57.1% compared to 53.6% as on September 30, 2019.
Average Savings deposits grew by 32% to Rs.106,442 crore for H1FY21 compared to Rs.80,425 crore for H1FY20. Average Current Account deposits grew by 10% to Rs.36,610 crore for H1FY21 compared to Rs.33,216 crore for H1FY20.
CASA and TDs below Rs.5 crore as on September 30, 2020, constituted 91% of total deposits (86% as on September 30, 2019). TD Sweep deposits as on September 30, 2020 were 7.7% of total deposits.
Customer Assets, which includes Advances and Credit substitutes, were Rs.218,790 crore as on September 30, 2020 (Rs.223,305 as on September 30, 2019). Advances as on September 30, 2020 were at Rs.204,845 crore (Rs.213,299 crore as on September 30, 2019).
Operating profit for Q2FY21 was Rs.3,297 crore, up 31% from Rs.2,509 crore in Q2FY20.
COVID related provisions as at September 30, 2020 stood at Rs.1,279 crore (0.62% of net advances). Non specific provisions towards Advances (including standard and Covid provisions) is at 177% of the NNPA of the Bank.
As on September 30, 2020, GNPA was 2.55% & NNPA was 0.64%. The Bank has not recognised any NPAs since August 31, 2020, in line with the interim order of Hon. Supreme Court. If the said Order was not given effect to, the GNPA would have been 2.70% and NNPA 0.74%. The Bank has, however, made provision for such advances.
Capital adequacy ratio of the Bank as per Basel III, as on September 30, 2020 was 22.0% and Tier I ratio was 21.4%.
Shares of KOTAK MAHINDRA BANK LTD. was last trading in BSE at Rs.1383.05 as compared to the previous close of Rs. 1393.25. The total number of shares traded during the day was 69443 in over 4319 trades.
The stock hit an intraday high of Rs. 1407.95 and intraday low of 1378.75. The net turnover during the day was Rs. 96530971.
