KOTAK MAHINDRA BANK Announces Quarterly Results (1QFY21); Net Profit Down 4.5%
Thu, 30 Jul

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

KOTAK MAHINDRA BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Operating incomeRs m83,14284,34184,217-0.1%1.3%
Other incomeRs m38,15436,50639,0156.9%2.3%
Total revenuesRs m121,296120,847123,2322.0%1.6%
InterestRs m41,55138,00936,282-4.5%-12.7%
Gross Profit Rs m41,59146,33247,9353.5%15.3%
Other expensesRs m47,11143,47151,40318.2%9.1%
Profit before taxRs m29,13226,74524,353-8.9%-16.4%
TaxRs m9,8637,2265,949-17.7%-39.7%
Profit after taxRs m19,26919,51818,404-5.7%-4.5%
Gross profit margin %50.054.956.9
Effective tax rate%33.927.024.4
Net profit margin%23.223.121.9
* 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 1.3% on a year-on-year (YoY) basis. The interest expended was down by 12.7% YoY during the same period.
  • The bank's operating profit increased by 15.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 56.9% in 1QFY21 as against 50.0% in 1QFY20.
  • Other income increased by 2.3% YoY during the quarter.
  • Net profit for the quarter declined by 4.5% YoY. Net profit margins during the quarter declined from 23.2% in 1QFY20 to 21.9% in 1QFY21.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 0.1% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 4.5% QoQ during the same period.
  • The bank's operating profit increased by 3.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 56.9% in 1QFY21 as against 54.9% in 4QFY20.
  • Net profit for the quarter declined by 5.7% QoQ, while net profit margins declined from 23.1% in 4QFY20 to 21.9% in 1QFY21.

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 1,498.0 to Rs 1,415.0, registering a Loss of Rs 83.0 or around 5.5%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 25,169.6 (up 0.4%). Over the last one year it has moved down from 32,582.6 to 25,169.6, a loss of 7,413 points (down 22.8%).

Overall, the S&P BSE SENSEX is up 1.7% over the year.

Current Valuations

At the current price of Rs 1,415.0, the price to earnings (P/E) ratio of KOTAK MAHINDRA BANK stands at 30.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.5 times.