Saturday, May 15, 2021
News

Kotak Mahindra Bank Q4 PAT up 36 pc at Rs 2,589 crore

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Mumbai (Maharashtra) | May 3, 2021 3:14:23 PM IST
Private sector lender Kotak Mahindra Bank on Monday reported 36 per cent year-on-year hike in its consolitated profit after tax at Rs 2,589 crore for the March quarter from Rs 1,905 crore in Q4 FY20.

The sharp growth was due to flat provisioning. The loan loss provisioning in Q4 FY21 stood at Rs 1,215 crore, almost at par with the March 2020 quarter. PAT margins improved from 15.77 per cent to 16 per cent in the same period.

The bank reported flat 33.8 per cent growth in total consolidated revenues at Rs 16,176 crore in Q4 FY21 and 45 per cent growth in treasury income.

However, revenues from corporate banking, retail banking and even vehicle finance business were down. The bank reported good top line traction in broking and advisory but the three-fold growth in revenues came from life insurance at Rs 6,179 crore.

Total revenues were up 10.5 per cent on a sequential basis. The operating profits went up by 16 per cent at Rs 4,578 crore due to five-fold spike in insurance related costs.

Operating margins contracted from 32.6 per cent in Mar 2020 to 28.3 per cent in Q4 FY21. However, gross NPAs were sharply up around 100 basis points.

The CASA deposit ratio increased to 60.2 per cent. Net interest income for the quarter was up 7.9 per cent at Rs 3,843 crore.

As on March 31, the Group's consolidated capital and reserves and surplus stood at Rs 84,836 crore. (ANI)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
Sovereign Gold Bond Scheme 2021-22 to be...
Resolution of pending issues of exporter...
Bata India appoints Gunjan Shah as new C...
FIDC seeks relief for MSMEs benefited un...
India's forex reserves up by over $1 bn...
India's trade performance improves in Ap...
More...
 
INDIA WORLD ASIA
Maha Congress chief alleges phone-tappin...
Implementing PM-KISAN scheme in Bengal s...
Rajasthan, Haryana likely to receive lig...
2 killed in road mishap on Dwarka Expres...
Odisha forms panel to monitor black fung...
Rapes, murders increasing in WB: Nationa...
More...    
 
 Top Stories
Number of seriously ill Covid patie... 
Pak's Punjab witnessing coronavirus... 
Singapore reports 52 new Covid-19 c... 
Two officials found guilty in Uttar... 
Foreign trade sector recovering in ... 
Covid tally crosses 21-lakh mark in... 
UN chief calls for unified Security... 
Rapes, murders increasing in WB: Na...