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Kotak Mahindra Bank Q3 PAT likely to jump 32%
India's fourth largest private sector lender by total assets Kotak Mahindra Bank is expected to report a standalone profit after tax of Rs 248 crore in the third quarter of FY12, a massive growth of 32% as compared to Rs 188 crore in the corresponding quarter of last fiscal.
India's fourth largest private sector lender by total assets Kotak Mahindra Bank is expected to report a standalone profit after tax of Rs 248 crore in the third quarter of FY12, a massive growth of 32% as compared to Rs 188 crore in the corresponding quarter of last fiscal.
Net interest income is seen going up 11% to Rs 634 crore from Rs 571.5 crore year-on-year.
Consolidated profit after tax of the company is likely to go up 18% to Rs 452 crore in the quarter ended December FY12 versus Rs 383 crore in a year ago quarter.
Expectations
-Lending biz growth expected to moderate >Loan growth expected to come off from 41% to 34%
-Margins expected to compress by 10 - 15 bps due to savings rate hike >Kotak Mahindra Bank - one of the 3 banks to hike savings deposit rates to 6% post dregulation
-Asset quality likely to be strong
-No pick up seen in capital market linked businesses >Investment banking, securities broking and AMC likely to see weaker profits and subdued growth
-Non interest income likely to grow 35% YoY led by strong fee income
Recent Management Comments
-15 bps cost of funds impact of savings rate hike is being passed on >Any NIMs contraction will be short term
