Kotak Mahindra Bank Ltd. on Monday announced its Q2 FY2021 results. The company reported a net profit of Rs 2,946.62 crore for the September quarter, a 22% growth YoY. It had posted a profit of Rs 2,407.25 crore in the corresponding quarter previous year.
The private bank posted a total income of Rs 13,591.41 crore during the Q2 FY2021 period as compared to Rs 12,542.99 crore during the FY2020 period. In the previous quarter, it posted Rs 12,323.15 crore revenue.
The Mumbai based company has reported diluted Earnings per Share (EPS) of Rs 14.89 for the period. It had posted EPS of Rs 9.56 for the previous Q1 June period.
The company in its BSE regulatory filing stated, “AUM (Policyholders’) of Kotak Mahindra Life Insurance as on September 30, 2020 grew 19% YoY to Rs 35,980 crore. The Relationship Value of all the customers of Wealth, Priority Banking and Investment Advisory was 300,000 crore as on September 30, 2020 up from 295,000 crore as on September 30, 2019. Consolidated Customer Assets, including Advances and Credit Substitutes, were Rs 247,432 crore as on September 30, 2020. Total assets managed / advised by the Group as on September 30, 2020 were up 12% at Rs 271,769 crore.”
Bank Q2FY21 highlights:
Standalone PAT for Q2FY21 Rs. 2,184 cr up 27% YoY
Standalone PBT for Q2FY21 Rs. 2,929 cr up 39% YoY
NII at Rs. 3,913 cr up 17% YoY
NIM at 4.52% (4.61% in Q2FY20)
CAR for the Bank as per Basel III, as on Sep 30, 2020 is 22.0% & Tier I ratio is 21.4%— Kotak Mahindra Bank (@KotakBankLtd) October 26, 2020
Asset Quality for the Bank:
NNPA (Sep 30, 2020) 0.64% vs. 0.85% (Sep 30, 2019)
Covid Provisions as at Sep 30, 2020 stood at Rs. 1,279 cr (0.62% of net advances)
Non-specific provisions towards Advances (including standard and Covid provisions) is at 177% of the NNPA of the Bank.— Kotak Mahindra Bank (@KotakBankLtd) October 26, 2020
