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You are here : IndiaNotes >> Research & Analysis >> Companies >> Kotak Mahindra Bank Ltd. >> Research

Kotak Mahindra Bank quarterly earnings meets estimates

SMC | 27 Oct, 2017  | Follow Author | Add to my Favourites 
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Kotak Mahindra Bank Ltd.’s quarterly earnings met estimates, and asset quality remained stable.
On the consolidated front, the bank has reported 20% growth in the net profit at Rs 1440.68 crore, with the NII rising 16% to Rs 3085.26 crore in the quarter ended September 2017. Non-interest income rose 7% to Rs 3074.18 crore and Net Total Income moved up 11% to Rs 6159.44 crore in the quarter ended September 2017. The expense ratio was lower at 60.6%, while the tax rate was also slightly lower at 32.7% in the quarter ended September 2017.


Kotak Prime has reported 10% yoy improvement in the net total income at Rs 340 crore for Q2FY2018, while net profits rose 15% to Rs 150 crore. Total customer asset moved up 21% yoy to Rs 28373 crore at end September 2017. Car advances constituting 70% of the total customer assets increased 15% to Rs 19831 crore. Asset quality was stable with %NNPA at 0.41% end September 2017 compared with 0.42% at end September 2016.


Kotak Mahindra Life Insurance has reported 8% increase in the new premium collection to Rs 687 crore in Q2FY2018. PAT increased 59% to Rs 100 crore in Q2FY2018. Solvency ratio improved to 3.08% in Q2FY2018 against 3.04% in Q2FY2017.


Kotak Securities has reported PAT at Rs 118 crore in Q2FY2018, exhibiting 23% surge from Rs 96 crore in Q2FY2017. Total income moved up 19% to Rs 351 crore. Market share stood at 1.9% at end September 2017 from 1.9% a quarter ago and 2.3% a year ago.


Kotak Mahindra Capital has reported a net loss of Rs 1 crore, against net profit of Rs 5 crore in the corresponding quarter last year. Total income of the company declined 40% to Rs 15 crore. AUM increased 40% to Rs 169214 crore at end September 2017 over September 2016.


Kotak Mahindra AMC and Trustee Co reported 57% surge in Average AUM at Rs 110832 crore in the quarter ended September 2017.


Steady asset quality: The bank has maintained the stable asset quality on consolidated as well as standalone basis, in the quarter ended September 2017.
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