KOTAK MAHINDRA BANK Announces Quarterly Results (2QFY21); Net Profit Up 21.9%

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KOTAK MAHINDRA BANK Announces Quarterly Results (2QFY21); Net Profit Up 21.9%
Tue, 27 Oct

KOTAK MAHINDRA BANK has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

KOTAK MAHINDRA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Operating incomeRs m84,18884,21783,374-1.0%-1.0%
Other incomeRs m41,24239,01552,54134.7%27.4%
Total revenuesRs m125,430123,232135,91410.3%8.4%
InterestRs m40,54336,28232,855-9.4%-19.0%
Gross Profit Rs m43,64447,93550,5195.4%15.8%
Other expensesRs m50,70951,40359,18215.1%16.7%
Profit before taxRs m29,52924,35339,14560.7%32.6%
TaxRs m5,4565,9499,81064.9%79.8%
Profit after taxRs m24,07318,40429,33559.4%21.9%
Gross profit margin %51.856.960.6
Effective tax rate%18.524.425.1
Net profit margin%28.621.935.2
* 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 fell 1.0% on a year-on-year (YoY) basis. The interest expended was down by 19.0% YoY during the same period.
  • The bank's operating profit increased by 15.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 60.6% in 2QFY21 as against 51.8% in 2QFY20.
  • Other income increased by 27.4% YoY during the quarter.
  • Net profit for the quarter increased by 21.9% YoY. Net profit margins during the quarter increased from 28.6% in 2QFY20 to 35.2% in 2QFY21.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 1.0% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 9.4% QoQ during the same period.
  • The bank's operating profit increased by 5.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 60.6% in 2QFY21 as against 56.9% in 1QFY20.
  • Net profit for the quarter increased by 59.4% QoQ, while net profit margins increased from 21.9% in 1QFY20 to 35.2% in 2QFY21.

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 down from Rs 1,593.3 to Rs 1,550.0, registering a Loss of Rs 43.3 or around 2.7%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 27,861.5 (up 1.6%). Over the last one year it has moved down from 33,412.4 to 27,861.5, a loss of 5,551 points (down 16.6%).

Overall, the S&P BSE SENSEX is up 3.2% over the year.

Current Valuations

At the current price of Rs 1,550.0, the price to earnings (P/E) ratio of KOTAK MAHINDRA BANK stands at 31.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.9 times.

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