Kotak Mahindra Bank Q3 FY2024 Results

Last Updated on January 24, 2024 by BFSLTeam BFSLTeam

Kotak Mahindra Bank Standalone Results Highlights:

1. Profit After Tax (PAT):

• 9MFY24 PAT increased to ₹9,648 crore, a 30% YoY rise from ₹7,444 crore in 9MFY23.
• Q3FY24 PAT reached ₹3,005 crore, up 8% YoY from ₹2,792 crore in Q3FY23.

Additional Read: Q3 Results Dashboard

2. Net Interest Income (NII):

• 9MFY24 NII surged to ₹19,084 crore, marking a 24% YoY increase from ₹15,449 crore in 9MFY23.
• Q3FY24 NII rose to ₹6,554 crore, up 16% YoY from ₹5,653 crore in Q3FY23.
• Net Interest Margin (NIM) for Q3FY24 was 5.22%.

3. Fees and Services:

• Fees and services for 9MFY24 increased to ₹5,998 crore, a 23% YoY rise from ₹4,861 crore in 9MFY23.
• Q3FY24 fees and services increased to ₹2,144 crore, up 26% YoY from ₹1,695 crore in Q3FY23.

4. Operating Profit:

• 9MFY24 operating profit surged to ₹14,126 crore, a 38% YoY increase from ₹10,201 crore.
• Q3FY24 operating profit reached ₹4,566 crore, up 19% YoY from ₹3,850 crore in Q3FY23.

5. Customer Metrics:

Customers as of December 31, 2023, were 4.8 crore (compared to 3.9 crore in December 31, 2022).

Additional Read: Kotak Bank Share Price

6. Advances and Assets:

• Advances (incl. IBPC & BRDS) increased by 19% YoY to ₹3,72,464 crore as of December 31, 2023.
• Customer Assets, including Advances (incl. IBPC & BRDS) and Credit Substitutes, rose by 17% YoY to ₹4,00,759 crore.

7. Retail Advances Composition:

Unsecured retail advances (incl. Retail Micro Finance) as a % of net advances stood at 11.6% as of December 31, 2023 (compared to 9.3% in December 31, 2022).