Kotak Bank Q1 results preview: PAT may grow by 7% YoY to Rs 3,682 crore, 13% jump in NII seen
Kotak Mahindra Bank is expected to report a net profit of Rs 3,682 crore for the quarter ended June 30, 2024 according to average estimates of six brokerages. The profit after tax may go up by nearly 7% on the year-on-year basis. The net interest income is seen at Rs 7,053 crore for the reporting quarter which is likely to be higher by 13% as per the average estimates by these half-a-dozen brokerages.
Yes Securities is most bullish on its PAT estimates of Kotak Mahindra Bank and pegs it at Rs 3,883 crore for the April-June quarter followed by Anand Rathi at 12.5% and 10.4%, respectively. Meanwhile, BNP Paribas has the most conservative estimates of Rs 3,520 crore which is just a 2% YoY uptick over the PAT reported in the year ago period.
As for NII, Yes Securities and Anand Rathi have highest estimates at Rs 7,182 crore and both these brokerages see the NII growth in excess of 15%. Meanwhile, BNP Paribas has the lowest estimate of Rs 6,730 crore which is likely an 8 YoY growth.
The company will be announcing its quarterly earnings on Saturday, July 20.
Here's what brokerages recommended:
Axis Securities
Axis Securities sees net profit for the reporting quarter at Rs 3,623 crore which may go up by 5% on the YoY basis while witnessing a 12.3% QoQ decline. The net interest income (NII) is seen at Rs 7,167 crore, up by Rs 15% YoY and 3.7% QoQ.
Axis in a preview note said that business growth momentum is expected to remain healthy and growth in the unsecured portfolio could continue. It also sees margin
