Kotak Mahindra Bank Q2 PAT seen up 24% at Rs 241.2 cr

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Kotak Mahindra Bank Q2 PAT seen up 24% at Rs 241.2 cr

Private sector lender Kotak Mahindra Bank is expected to report a standalone profit after tax of Rs 241.2 crore for the second quarter of FY12, a growth of 24% as compared to Rs 194.7 crore in the corresponding quarter of last fiscal.

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Private sector lender Kotak Mahindra Bank is expected to report a standalone profit after tax of Rs 241.2 crore for the second quarter of FY12, a growth of 24% as compared to Rs 194.7 crore in the corresponding quarter of last fiscal.

Net interest income is seen going up by 14% to Rs 620.4 crore from Rs 543.8 crore year-on-year.

Expectations

·          Strong growth in advances expected around 30%

·          NIMs expected to be stable around 4.6%

·          Kotak Prime could be under some pressure

·          Capital market business unlikely to show pick up given domestic and institutional concerns