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Kotak Mahindra Bank Q1 Results FY22-2023

23 July 2022

Kotak Mahindra Bank posted its Q1 FY23 results on July 23, 2022. The bank reported a 26% YoY (Year on Year) jump in its net profit which came in at Rs 2,071 crore for Q1 FY23 from Rs 1,642 crore in Q1 FY22. However, the net profit dived by nearly 25% QoQ and came in at Rs 2,071 crore for the quarter under review from Rs 2,767 crore in the previous quarter.

The bank’s Net Interest Income (NII) came in at Rs 4,697 crore, up by 19% YoY from Rs 3,942 crore in the corresponding quarter in the previous fiscal year. The NII was marginally up to Rs 4,697 crore from Rs 4,521 crore in the previous quarter.

Kotak Mahindra Bank’s assets improved to 3.37 lakh crore in the quarter under review from Rs 2.63 lakh crore in the year ago period. The bank’s Gross NPA (Non-Performing Assets) were clocked at 2.24% from 2.34% in the previous quarter and 3.56% in the year ago period. Meanwhile, the Net NPA came in at 0.62% against 0.64% in the previous quarter and 1.28% in the year ago period.

Kotak Mahindra Bank’s scrip closed in the green at Rs 1,827.10 after rising by 1.47% at the end of the intraday trading session on July 22, 2022 ahead of the company’s quarterly results.

Hits of Kotak Mahindra Q1 Results

  • Net profit up 26% YoY to Rs 2,071 crore for Q1 FY23 from Rs 1,642 crore in Q1 FY22
  • Net Interest Income (NII) me in at Rs 4,697 crore, up by 19% YoY from Rs 3,942 crore in the corresponding quarter in the previous fiscal year
  • Total income up at Rs 5,941 crore from Rs 5,293 crore in the previous quarter
  • Capital Adequacy Ratio (CAR) as per Basel III as at June 30, 2022 was 23.3% and CET I ratio was 22.4

Misses of Kotak Mahindra Quarterly Results Q1 2023

  • Net profit down by 25% QoQ and came in at Rs 2,071 crore for the quarter under review from Rs 2,767 crore in the previous quarter
  • NII largely flat on a sequential basis
  • Operating profit down at Rs 2,783 from Rs 2,890 crore in the year ago period and Rs 3,340 crore in the previous quarter

Segment-wise revenue under Q1 Result of Kotak Mahindra 

  • Corporate Banking: Revenue up 11% YoY to Rs 3,517 crore from Rs 3,166 crore in the year ago period
  • Retail Banking: Revenue up 2% YoY to Rs 4,240 crore from Rs 3,477 crore in the year ago period
  • Treasury: Revenue down 32% YoY to Rs 1,496 crore from Rs 2,206 crore in the year ago period

Other things to know about Kotak Mahindra Bank

  • Kotak Mahindra Bank’s P/E ratio is at 30.00 against the industry average of 19.43
  • The bank’s P/B ratio is at 4.22 against the industry average of 2.11.
  • Kotak Mahindra Bank’s dividend yield is at 0.06% against the industry average of 0.94%

To read the RA disclaimer, please click here.
Research Analyst: Bavadharini KS

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