Kotak Mahindra Bank Q4FY19 Results: 25% jump in standalone net profit registered

Private lender Kotak Mahindra Bank registered a 25% jump in standalone net profit during Q4FY19 period. The net profit stood at Rs 1,408 crore as against Rs 1,124 crore in Q4FY18. Meanwhile, standalone net interest income (NII) increased to Rs  3,048 crore in Q4FY19 versus Rs 2,580 crore in Q4FY18. Net Interest Margin stood at 4.48% in the latest quarter. On a consolidated basis, Q4FY19 PAT jumped to Rs 2,038 crore up from Rs 1,789 crore in Q4FY18.

As on March 2019, Kotak's gross NPA came in at Rs 4,468 crore higher from Rs 3,825 crore in Q4FY18 and Rs 4,129 crore in Q3FY19. In percentage terms, GNPA was at 2.14% stable from 2.22% in Q4FY18, however, up from 2.07% recorded in Q3FY19. 

Advances as on March 31, 2019, were up 21% to Rs 205,695 crore(Rs 169,718 cr as on March 31, 2018) and the total Balance Sheet size has crossed Rs 300,000 crore.

Meantime, CASA ratio as on March 31, 2019 stood at 52.5 % compared to 50.8% as on March 31, 2018. Average Savings deposits grew by 25% to Rs 76,289 cr for Q4FY19 compared to Rs 61,223 cr for Q4FY18. Average Current Account deposits grew by 14% to Rs 30,926 cr for Q4FY19 compared to Rs 27,024 cr for Q4FY18. TD Sweep deposits as on March 31, 2019 were 6.5% of the total deposits.

Capital adequacy ratio of the Bank as per Basel III, as on March 31, 2019 is 17.5% and Tier I ratio is 16.9%.

Bank had a network of 1,500 full-fledged branches and 2,352 ATMs affording it the capacity and means to serve its customers through its wide presence as on March 2019.

For FY19, standalone NII increased to Rs 11,259 cr from Rs 9,532 cr in FY18. Bank PAT surged to Rs 4,865 cr from Rs 4,084 cr in FY18. NIM was at 4.33% in FY19.

In a meeting held on Tuesday, the Board of Directors  recommended a dividend of Rs 0.80 per equity share having face value of Rs 5 for the year ended March 31, 2019. The aforesaid dividend will be paid after the approval of shareholders at the Annual General Meeting.