Overview
- Kotak Mahindra Bank’s standalone net profit fell about 2.7% year on year to roughly Rs 3,253 crore, with consolidated profit down around 11% to Rs 4,468 crore.
- Net interest margin came in at 4.54%, down about 11 basis points quarter on quarter, even as net interest income rose 4% year on year to Rs 7,311 crore.
- Provisions increased roughly 43.5% year on year to about Rs 947 crore, weighing on earnings despite healthy loan growth of around 16% to Rs 4.62–4.63 lakh crore.
- Asset quality improved quarter on quarter with gross NPA near 1.39–1.40% and net NPA at about 0.32%, while gross slippages moderated to roughly Rs 16.3 billion.
- The stock fell about 2–3% in early trade as brokerages issued mixed views, with Jefferies and Motilal Oswal raising targets, while Investec, Nomura and Emkay stayed cautious on valuations and margin trajectory.