Kotak Mahindra Bank Ltd Q2FY18
Standalone Results Q2FY18: (Rs. in crore)
|Net Profit (adjusted)||994||22.3|
The NII for the quarter registered 16% yoy rise to Rs.2313 crore in Q2FY18 vs Rs.1995 crore in previous year corresponding quarter. This was largely led by 8% yoy rise in interest income and minimal rise in interest expended by 1.2% yoy to Rs.2447 crore. While, NIM’s for the quarter stood at 4.30% vs 4.46% in Q2FY17
Asset quality of the bank remained stable as GNPA’s as percentage of total advances stood at 2.47% in Q2FY18 vs 2.49% in Q2FY17. NNPA also stood at 1.26% in Q2FY18.However, total GNPA’s for the quarter rose by 20% yoy to Rs.3814 crore vs Rs.3180 crore in previous year corresponding quarter.
Provisions for the bank surged by 9.6% yoy to Rs.216 crore vs Rs.197 crore in Q2FY17.This minimal rise in provisions led to 22.3% yoy rise in bottom-line to Rs.994 crore in Q2FY18 vs Rs.813 crore in Q2FY17.
Advances for the quarter rose by 21% yoy to Rs.152574 crore in Q2FY18 vs Rs.126015 crore in previous year corresponding quarter. Capital adequacy also looks strong at CAR Basel III at 18.36% in Q2FY18 vs 15.7% in Q2FY17.
Kotak Mahindra Bank Ltd is currently trading at Rs. 1,018, down by 49.7 points or 4.65% from its previous closing of Rs. 1,067.70 on the BSE.
The scrip opened at Rs. 1,080 and has touched a high and low of Rs. 1,080 and Rs. 1,000 respectively. So far 69,55,470(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.
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