KOTAK MAHINDRA BANK Announces Quarterly Results (3QFY20); Net Profit Up 28.9%

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KOTAK MAHINDRA BANK Announces Quarterly Results (3QFY20); Net Profit Up 28.9%
Tue, 21 Jan

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

KOTAK MAHINDRA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Operating incomeRs m77,44684,18883,320-1.0%7.6%
Other incomeRs m36,02841,24252,10526.3%44.6%
Total revenuesRs m113,474125,430135,4248.0%19.3%
InterestRs m39,40540,54338,904-4.0%-1.3%
Gross Profit Rs m38,04143,64444,4161.8%16.8%
Other expensesRs m46,98550,70962,90024.0%33.9%
Profit before taxRs m27,19329,52929,089-1.5%7.0%
TaxRs m8,9655,4565,6012.7%-37.5%
Profit after taxRs m18,22824,07323,487-2.4%28.9%
Gross profit margin %49.151.853.3
Effective tax rate%33.018.519.3
Net profit margin%23.528.628.2
* 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 grew 7.6% on a year-on-year (YoY) basis. The interest expended was down by 1.3% YoY during the same period.
  • The bank's operating profit increased by 16.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 53.3% in 3QFY20 as against 49.1% in 3QFY19.
  • Other income increased by 44.6% YoY during the quarter.
  • Net profit for the quarter increased by 28.9% YoY. Net profit margins during the quarter increased from 23.5% in 3QFY19 to 28.2% in 3QFY20.
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 4.0% QoQ during the same period.
  • The bank's operating profit increased by 1.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 53.3% in 3QFY20 as against 51.8% in 2QFY19.
  • Net profit for the quarter declined by 2.4% QoQ, while net profit margins declined from 28.6% in 2QFY19 to 28.2% in 3QFY20.

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 1,267.3 to Rs 1,606.8, registering a Gain of Rs 339.5 or around 26.8%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 35,440.3 (down 0.0%). Over the last one year it has moved up from 30,770.4 to 35,440.3, a gain of 4,670 points (up 15.2%).

Overall, the S&P BSE SENSEX is up 13.4% over the year.

Current Valuations

At the current price of Rs 1,606.8, the price to earnings (P/E) ratio of KOTAK MAHINDRA BANK stands at 34.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.1 times.

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