Kotak Mahindra Bank on January 18 reported a 10 percent rise in its net profit at Rs 4,701.02 crore in the third quarter of FY25, compared to Rs 4,264.78 crore in the year-ago period, the lender said in an exchange filing.
However, the net profit declined close to 7 percent sequentially from Rs 5,044.05 crore in the September quarter.
The interest earned by the bank in the reported quarter rose 14.75 percent to Rs 16,633.14 compared to Rs 14,494.96 crore in the same period of the previous financial year, the filing showed. In the second quarter, the interest earned stood at Rs 16,426.97 crore, according to the stock filing.
Gross non-performing asset (NPA) ratio was 1.51 percent as on December 31, 2024, as compared to 1.48 percent as on September 30, 2024, and 1.68 percent on December 31, 2023.
Net NPA ratio was 0.44 percent as on December 31, 2024, as compared to 0.45 percent as on September 30, 2024, and 0.36 percent on December 31, 2023.
In absolute terms, gross NPA of the bank stood at Rs 7,218.17 crore as on December 31, 2024, as compared to Rs 6,834.74 crore as on September 30, 2024, and Rs 6,981.15 crore as on December 31, 2023.
Net NPA of the bank stood at Rs 2,070.42 crore as on December 31, 2024, as compared to Rs 2,066.51 crore as on September 30, 2024, and Rs 1,487.03 crore as on December 31, 2023.
As at December 31, 2024, Provision Coverage Ratio stood at 73 percent.
Net Interest Income (NII) for Q3FY25 increased to Rs 7,196 crore, from Rs 6,554 crore in Q3FY24, up 10 percent on-year and for 9MFY25 increased to Rs 21,058 crore, from Rs 19,084 crore in 9MFY24, up 10 percent on-year.
Net Interest Margin (NIM) was 4.93 percent for Q3FY25.
Fees and services for Q3FY25 increased to Rs 2,362 crore from Rs 2,144 crore in Q3FY24, up 10 percent on-year and for 9MFY25 increased to Rs 6,915 crore from Rs 5,998 crore in 9MFY24, up 15 percent on-year.
Customer Assets, which comprises Advances (incl. IBPC & BRDS) and Credit Substitutes, increased by 15 percent on-year to Rs 4.59 lakh crore as at December 31, 2024 from Rs 4.01 lakh crore as at December 31, 2023.
Advances (incl. IBPC & BRDS) increased 16 percent on-year to Rs 4.34 lakh crore as at December 31, 2024 from Rs 3.72 lakh crore as at December 31, 2023. Unsecured retail advances (incl. retail microcredit) as a percent of net advances stood at 10.5 percent as at December 31, 2024.
Average Total Deposits grew to Rs 4.59 lakh crore for Q3FY25 compared to Rs 3.99 lakh crore for Q3FY24 up 15 percent on-year.
Average Current Deposits grew to Rs 66,589 crore for Q3FY25 compared to Rs 59,337 crore for Q3FY24 up 12 percent on-year. Average Savings Deposits grew to Rs 1.24 lakh crore for Q3FY25 compared to Rs 1.23 lakh crore for Q3FY24 up 1 percent on-year.
Average Term Deposits grew to Rs 2.68 lakh crore for Q3FY25 compared to Rs 2.16 lakh crore for
Q3FY24 up 24 percent on-year.
CASA ratio as at December 31, 2024 stood at 42.3 percent. Credit to Deposit ratio as at December 31, 2024 stood at 87.4 percent.
Capital Adequacy Ratio of the Bank, as per Basel III, as at December 31, 2024 was 22.8 percent and CET-1 ratio of 21.7 percent (including unaudited profits).
On January 17, the stock price of the lender closed 2.58 percent lower at Rs 1,759.05 on NSE.
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