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Kotak Mahindra Bank PAT jumps 14% YoY to Rs 3,304-cr in Q3 FY25

18-Jan-25 15:55 Hrs IST

Profit before tax increased 10.02% year on year (YoY) to Rs 4,386.90 crore in the quarter ended 31 December 2024.

Net Interest Income (NII) for Q3 FY25 stood at Rs 7,196 crore, up 10% from Rs 6,554 crore recorded in Q3 FY24. Net interest margin (NIM) was 4.93% for Q3 FY25.

Operating profit was at Rs 5,181 crore during the quarter, up 13% as against Rs 4,566 crore reported in Q3 FY24.

Fees and services grew by 10% YoY to Rs 2,362 crore in the quarter ended 31 December 2024. Customers as on 31 December 2024 were 5.2 crore as compared to Rs 4.8 crore as on 31 December 2023.

Customer assets increased by 15% YoY to Rs 459,436 crore as at 31 December 2024 from Rs 400,759 crore as at 31 December 2023. Advances rose by 16% YoY to Rs 433,386 crore as at 31 December 2024 from Rs 372,464 crore as at 31 December 2023.

On the asset quality front, the gross non-performing asset (GNPA) ratio was 1.50% as of 31 December 2024, compared to 1.49% as of 30 September 2024 and 1.73% as of 31 December 2023.

The net non-performing assets (NNPA) ratio was 0.41% as of 31 December 2024, compared to 0.43% as of 30 September 2024 and 0.34% as of 31 December 2023.

The provision coverage ratio stood at 73% in Q3 FY25. During the quarter, slippages were at Rs 1,657 crore from Rs 1,177 crore reported in the same period a year ago.

The capital adequacy ratio of the bank, as per Basel III, as at 31 December 2024 was 22.8% and the CET1 ratio of 21.7% (including unaudited profits).

Return on assets (ROA) for Q3 FY25 (annualized) was 2.10% as against 2.20% registered in Q3 FY24.

On a consolidated basis, the bank's PAT for Q3 FY25 was Rs 4,701.02 crore, up 10.22% YoY from Rs 4,264.78 crore in Q3 FY24. At the consolidated level, the return on assets (ROA) for Q3 FY25 (annualized) was 2.30% and the return on equity (ROE) for Q3 FY25 (annualized) stood at 12.43%.

Consolidated networth as at 31 December 2024 was at Rs 1,52,878 crore (including increase in reserves due to RBI's Master Direction on Bank's investment valuation of Rs 5,654 crore and gain on Kotak General Insurance (KGI) divestment of Rs 2,730 crore).

Total Assets Under Management as at 31 December 2024 were Rs 686,197 crore, up 29% YoY over Rs 533,365 crore as at 31 December 2023. The domestic MF equity AUM increased by 39% YoY to Rs 319,161 crore as at 31 December 2024.

Kotak Mahindra Bank is the flagship company of the Kotak Group and has diversified operations covering commercial vehicle financing, consumer loans, corporate finance, and asset reconstruction. Through its subsidiaries, the bank is engaged in investment banking, equity broking, securities-based lending, and car finance.

Shares of Kotak Mahindra Bank declined 2.58% to end at Rs 1,758.65 on Friday, 17 January 2025.