Kotak Mahindra Bank Ltd's Q4FY19 standalone net profit rises 25.3% yoy to Rs1,407.80cr : In-line with Estimates

The bank’s standalone NII stood at Rs3,048cr, up 18.1% yoy.

Apr 30, 2019 09:04 IST India Infoline Research Team

Kotak Mahindra Bank Ltd Q4FY19

Standalone Results Q4FY19: ( cr)

Q4FY19 YoY (%)
NII 3,048 18.1
GNPA (%) 2.1 7bps
Provisions 171.26 [44.2]
Net Profit (adjusted) 1,407.80 25.3
***GNPA change is on qoq basis
Kotak Mahindra Bank’s Q4FY19 standalone NII has improved by 18.1% yoy to Rs3,048cr against Rs2,580cr in the corresponding quarter previous year. The bank’s standalone net profit was in-line with consensus estimates, which has improved by 25% yoy to Rs1,408cr against Rs1,124cr in Q4FY18. Its GNPA for Q4FY19 came at 2.14% against 2.07% qoq, which has increased by 7bps. NNPA for the quarter came at 0.75% against 0.71% qoq, which has increased by 4bps.

  • The NIMs for Q4FY19 came at 4.48% as against 4.33% qoq.
  • Advances during the quarter were up by 21% yoy to Rs 2.05 lakh cr.
  • Average Savings deposits grew by 25% to Rs76,289cr for Q4FY19 compared to Rs61,223cr for Q4FY18. Average Current Account deposits grew by 14% to Rs30,926cr for Q4FY19 compared to Rs27,024cr for Q4FY18.
  • TD Sweep deposits as on March 31, 2019 were 6.5% of the total deposits.
  • Capital adequacy ratio of the Bank as per Basel III, as on March 31, 2019 is 17.5% and Tier I ratio is 16.9%.
  • As on March 31, 2019, SMA2 outstanding was Rs138cr (0.07% of net advances).
  • Provision coverage ratio for the quarter has come at 65.4% for the quarter.

Technical View:

Kotak Mahindra Bank Ltd is currently trading at Rs. 1,387.05, up by 9 points or 0.65% from its previous closing of Rs. 1,378.05 on the BSE.
The scrip opened at Rs. 1,384.75 and has touched a high and low of Rs. 1,396.95 and Rs. 1,353 respectively. So far 50,13,273 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.

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