Stock to watch: Kotak Bank shares likely to remain in focus after reporting Q2 results
Kotak Mahindra Bank are likely to remain in focus today after the company on Saturday reported a 5% year-on-year (YoY) rise in its standalone profit after tax (PAT) for the quarter ended September 2024 to Rs 3,344 crore.
The bank's net interest income (NII) for Q2FY25 increased 11% YoY to Rs 7,020 crore, from Rs 6,297 crore in the corresponding quarter of the previous financial year.
Its net interest margin (NIM) was 4.91% for Q2, lower from 5.22% recorded in Q2FY24.
As of September, GNPA rose to 1.49% from 1.72% YoY and net NPA also rose to 0.43% from 0.37% YoY.
Capital Adequacy Ratio of the bank, as per Basel III, as of September 2024 was 22.6% and CET1 ratio was 21.5% (including unaudited profits). Meanwhile the standalone Return on Assets (ROA) for Q2FY25 (annualized) was 2.17% (2.45% for Q2FY24).
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