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KOTAK MAH. BANK Announces Quarterly Results (3QFY19); Net Profit Up 12.7%

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KOTAK MAH. BANK Announces Quarterly Results (3QFY19); Net Profit Up 12.7%
Tue, 22 Jan

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

KOTAK MAH. BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m63,90773,11177,4465.9%21.2%
Other incomeRs m53,91835,18036,0282.4%-33.2%
Total revenuesRs m117,826108,291113,4744.8%-3.7%
InterestRs m32,04837,72839,4054.4%23.0%
Gross Profit Rs m31,85935,38438,0417.5%19.4%
Other expensesRs m42,68441,46746,98513.3%10.1%
Profit before taxRs m24,14025,83227,1935.3%12.6%
TaxRs m7,9598,3588,9657.3%12.6%
Profit after taxRs m16,18117,47418,2284.3%12.7%
Gross profit margin %49.948.449.1
Effective tax rate%33.032.433.0
Net profit margin%25.323.923.5
* 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 21.2% on a year-on-year (YoY) basis. The interest expended was up by 23.0% YoY during the same period.
  • The bank's operating profit increased by 19.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 49.1% in 3QFY19 as against 49.9% in 3QFY18.
  • Other income declined by 33.2% YoY during the quarter.
  • Net profit for the quarter increased by 12.7% YoY. Net profit margins during the quarter declined from 25.3% in 3QFY18 to 23.5% in 3QFY19.
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 4.4% QoQ during the same period.
  • The bank's operating profit increased by 7.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 49.1% in 3QFY19 as against 48.4% in 2QFY18.
  • Net profit for the quarter increased by 4.3% QoQ, while net profit margins declined from 23.9% in 2QFY18 to 23.5% in 3QFY19.

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 1,071.3 to Rs 1,298.0, registering a Gain of Rs 226.7 or around 21.2%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 30,766.3 (down 0.0%). Over the last one year it has moved up from 30,617.5 to 30,766.3, a gain of 149 points (up 0.5%).

Overall, the S&P BSE SENSEX is up 1.8% over the year.

Current Valuations

At the current price of Rs 1,298.0, the price to earnings (P/E) ratio of KOTAK MAH. BANK stands at 36.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.7 times.

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