KOTAK MAH. BANK Announces Quarterly Results (2QFY19); Net Profit Up 21.3%

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KOTAK MAH. BANK Announces Quarterly Results (2QFY19); Net Profit Up 21.3%
Fri, 9 Nov

KOTAK MAH. BANK has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

KOTAK MAH. BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Operating incomeRs m60,72969,03473,1115.9%20.4%
Other incomeRs m30,74230,00235,18017.3%14.4%
Total revenuesRs m91,47099,036108,2919.3%18.4%
InterestRs m29,28634,98737,7287.8%28.8%
Gross Profit Rs m31,44334,04735,3843.9%12.5%
Other expensesRs m37,32735,90041,46715.5%11.1%
Profit before taxRs m21,52023,15925,83211.5%20.0%
TaxRs m7,1137,7148,3588.4%17.5%
Profit after taxRs m14,40715,44617,47413.1%21.3%
Gross profit margin %51.849.348.4
Effective tax rate%33.133.332.4
Net profit margin%23.722.423.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The bank's operating income (interest earned) during the quarter grew 20.4% on a year-on-year (YoY) basis. The interest expended was up by 28.8% YoY during the same period.
  • The bank's operating profit increased by 12.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 48.4% in 2QFY19 as against 51.8% in 2QFY18.
  • Other income increased by 14.4% YoY during the quarter.
  • Net profit for the quarter increased by 21.3% YoY. Net profit margins during the quarter increased from 23.7% in 2QFY18 to 23.9% in 2QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 5.9% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 7.8% QoQ during the same period.
  • The bank's operating profit declined by 3.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 48.4% in 2QFY19 as against 49.3% in 1QFY18.
  • Net profit for the quarter increased by 13.1% QoQ, while net profit margins increased from 22.4% in 1QFY18 to 23.9% in 2QFY19.

To see how KOTAK MAH. BANK has performed over the last eight quarters, please visit here.

KOTAK MAH. BANK Share Price Performance

Over the last one year, KOTAK MAH. BANK share price has moved up from Rs 1,005.3 to Rs 1,134.3, registering a Gain of Rs 129.0 or around 12.8%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 29,105.4 (up 0.2%). Over the last one year it has moved up from 28,634.8 to 29,105.4, a gain of 471 points (up 1.6%).

Overall, the S&P BSE SENSEX is up 5.4% over the year.

Current Valuations

At the current price of Rs 1,134.3, the price to earnings (P/E) ratio of KOTAK MAH. BANK stands at 34.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.1 times.

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