21 Jul 2023 , 10:39 AM
Result date: 22nd 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:
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
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