Stocks to Watch: Kotak Mahindra Bank, DMart, Mahindra Finance, Britannia, Titan, Inox Wind
Kotak Mahindra Bank: The bank's PAT for FY24 increased by 26% YoY to ₹13,782 crore. The PAT for Q4FY24 was ₹4,133 crore, an 18% YoY increase. The bank's NII for FY24 increased by 21% YoY to ₹25,993 crore.
The NIM for Q4FY24 was 5.28%. The bank's board recommended a ₹2 per share dividend. Avenue Supermarts: The company, which runs large format retail stores DMart, reported a 22% YoY increase in their net profits for Q4FY24, with the PAT rising to ₹563.1 crore.
The company's revenue from operations grew by 20% to ₹12,726 crore. Mahindra Finance: The company's total income for Q4FY24 was ₹3,706 crores, a 21% YoY increase. However, its PAT decreased by 10% YoY to ₹619 crores, while its NII increased by 14%, to ₹1,971 crores.
The company's NIM was stable at 7.1%. Disbursements rose by 11% to ₹15,292 crores, and the Gross Loan Book grew by 24% YoY to ₹1,02,597 crores. The company also improved its asset quality, reducing Stage 3 assets to 3.4% from 4.0% in December 2023.
Credit costs were within the targeted range of 1.5% - 1.7%. Britannia Industries: The company reported a consolidated net profit of ₹536.61 crore for the March quarter, a decline of 3.76% from the same quarter of the previous financial year. The total revenue of the company stood at ₹4,069.36 crore, rising 1.14% from the year-ago quarter.
IDBI Bank: The bank reported a 43.7% YoY increase in net profit for Q4FY24, at ₹1,628.5 crore. The bank's NII rose by 12.4% to ₹3,687.9 crore. The bank's board recommended a dividend of ₹1.50 per equity share for FY24.
Read more on livemint.com
