KOTAK MAHINDRA BANK Announces Quarterly Results (2QFY20); Net Profit Up 37.8%

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KOTAK MAHINDRA BANK Announces Quarterly Results (2QFY20); Net Profit Up 37.8%
Wed, 23 Oct

KOTAK MAHINDRA BANK has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

KOTAK MAHINDRA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Operating incomeRs m73,11183,14284,1881.3%15.1%
Other incomeRs m35,18038,15441,2428.1%17.2%
Total revenuesRs m108,291121,296125,4303.4%15.8%
InterestRs m37,72841,55140,543-2.4%7.5%
Gross Profit Rs m35,38441,59143,6444.9%23.3%
Other expensesRs m41,46747,11150,7097.6%22.3%
Profit before taxRs m25,83229,13229,5291.4%14.3%
TaxRs m8,3589,8635,456-44.7%-34.7%
Profit after taxRs m17,47419,26924,07324.9%37.8%
Gross profit margin %48.450.051.8
Effective tax rate%32.433.918.5
Net profit margin%23.923.228.6
* 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 15.1% on a year-on-year (YoY) basis. The interest expended was up by 7.5% YoY during the same period.
  • The bank's operating profit increased by 23.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 51.8% in 2QFY20 as against 48.4% in 2QFY19.
  • Other income increased by 17.2% YoY during the quarter.
  • Net profit for the quarter increased by 37.8% YoY. Net profit margins during the quarter increased from 23.9% in 2QFY19 to 28.6% in 2QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 1.3% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 2.4% QoQ during the same period.
  • The bank's operating profit increased by 4.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 51.8% in 2QFY20 as against 50.0% in 1QFY19.
  • Net profit for the quarter increased by 24.9% QoQ, while net profit margins increased from 23.2% in 1QFY19 to 28.6% in 2QFY20.

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

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KOTAK MAHINDRA BANK Share Price Performance

Over the last one year,KOTAK MAHINDRA BANK share price has moved up from Rs 1,177.8 to Rs 1,623.8, registering a Gain of Rs 446.1 or around 37.9%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 33,424.2 (up 0.5%). Over the last one year it has moved up from 27,899.6 to 33,424.2, a gain of 5,525 points (up 19.8%).

Overall, the S&P BSE SENSEX is up 14.5% over the year.

Current Valuations

At the current price of Rs 1,623.8, the price to earnings (P/E) ratio of KOTAK MAHINDRA BANK stands at 37.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.1 times.

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