Kotak Mahindra Bank Q3 Net Profit Rises 10% YoY to ₹3,305 Cr
Q3 Financial Results
Kotak Mahindra Bank announced its financial results for the quarter ending December 31, 2024, on Saturday. The bank's Profit After Tax (PAT) grew by 10% year-on-year to ₹3,305 crore, up from ₹3,005 crore in Q3FY24. For the nine-month period (9MFY24), PAT increased by 5% year-over-year to ₹10,168 crore from ₹9,648 crore.
Net Interest Income
Net Interest Income (NII) for the bank rose by 10% year-on-year to ₹7,196 crore in Q3FY25, compared to ₹6,554 crore in Q3FY24. For 9MFY25, NII totaled ₹21,058 crore, up from ₹19,084 crore in 9MFY24. The Net Interest Margin (NIM) for Q3FY25 reached 4.93%.
Fees and Operating Profit
Kotak Mahindra Bank's fees and services went up by 10% year-on-year to ₹2,362 crore in Q3FY25 from ₹2,144 crore in Q3FY24, and by 15% year-on-year to ₹6,915 crore in 9MFY25 from ₹5,998 crore in 9MFY24. The bank's operating profit grew 13% year-on-year to ₹5,181 crore from ₹4,566 crore in Q3FY24, and 10% year-on-year to ₹15,534 crore from ₹14,126 crore in 9MFY25.
Deposits and CASA Ratio
In Q3FY25, average total deposits grew by 15% year-on-year to ₹458,614 crore from ₹398,908 crore in Q3FY24. Average current deposits increased by 12% year-on-year to ₹66,589 crore, average savings deposits climbed by 1% year-on-year to ₹124,282 crore, and average term deposits jumped by 24% year-on-year to ₹267,743 crore. As of December 31, 2024, the bank's CASA ratio was 42.3%.
Asset Quality and Customer Base
On December 31, 2024, the Gross Non-Performing Asset (GNPA) was 1.50%, and the Net Non-Performing Asset (NNPA) was 0.41%. The Provision Coverage Ratio was 73%. The bank's standalone return on assets (ROA) for Q3FY25 (annualized) was 2.10%, compared to 2.20% in Q3FY24. The bank's customer base reached 5.2 crore as of December 31, 2024, up from 4.8 crore in the same period of the previous fiscal year.
Kotak Mahindra Bank's consolidated PAT climbed 10% year-on-year to ₹4,701 crore in Q3FY25 from ₹4,265 crore in Q3FY24 and to ₹14,180 crore in 9MFY25 from ₹12,876 crore in 9MFY24. As of December 31, 2024, the book value per share was ₹769, and the consolidated net worth was ₹152,878 crore.
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