Q1FY24 Preview: Kotak Mahindra Bank: NII seen at Rs. 62,078 million, PAT at Rs. 32,132 million

21 Jul 2023 , 10:39 AM

Result date: 22^nd July, 2023

Recommendation: Add

Target price: Rs. 2,030

(Source: IIFL Research)

Kotak Mahindra Bank could witness continued traction in loan as well as deposit growth. Net Interest Income (NII) could grow 32.17% over the year-ago quarter.

Margins could come under pressure amid rising cost of funds. Pre-provisioning operating profit could grow 61.50% as compared to the year-ago quarter. Credit costs and slippages are likely to remain under control.

The Bank’s Profit After Tax (PAT) could grow 55.10% over the year-ago quarter.

Important management insights to watch out for:

• Outlook for credit, deposit growth
• Margin trajectory from here on
• Trends seen in asset quality

Rs. Million	June 2023 estimates	YoY change	QoQ change
NII	62,078	32.17%	1.73%
PPOP	44,954	61.50%	(3.28)%
Profit After Tax	32,132	55.10%	(8.10)%

Source: Brokerage Reports