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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: 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:

  • 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

Related Tags

  • Kotak
  • Kotak Bank
  • Kotak Bank Q1
  • Kotak Mahindra Bank
  • Kotak Mahindra Bank Q1
  • Kotak Q1
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