Kotak Mahindra Bank fell 0.64% to Rs 671.65 at 14:25 IST on BSE after net profit rose 36.63% to Rs 634.72 crore on 61.77% rise in total income to Rs 4843.86 crore in Q3 December 2015 over Q3 December 2014.
The result was announced during market hours today, 18 January 2016. The results are not comparable due to merger of ING Vysya Bank with Kotak Mahindra Bank which took effect from 1 April 2015.Meanwhile, the S&P BSE Sensex was down 58.59 points or 0.24% at 24,396.45
On BSE, so far 1.37 lakh shares were traded in the counter as against average daily volume of 1.23 lakh shares in the past one quarter. The stock hit a high of Rs 686.40 and a low of Rs 665.10 so far during the day. The stock had hit a record high of Rs 744.45 on 21 July 2015. The stock had hit a 52-week low of Rs 594.10 on 7 September 2015. The stock had outperformed the market over the past one month till 15 January 2016, falling 1.1% compared with Sensex's 3.42% fall. The scrip had also outperformed the market in past one quarter, gaining 3.44% as against Sensex's 9.46% fall.
The large-cap private bank has equity capital of Rs 916.25 crore. Face value per share is Rs 5.
On absolute basis, Kotak Mahindra Bank's gross non-performing assets (NPAs) stood at Rs 2690.34 crore as on 31 December 2015, compared with Rs 2655.38 crore as on 30 September 2015 and Rs 1219.86 crore as on 31 December 2014. The ratio of gross NPAs to gross advances stood at 2.3% as on 31 December 2015 as against 2.35% as on 30 September 2015 and 1.87% as on 31 December 2014. The ratio of net NPAs to net advances stood at 0.96% as on 31 December 2015 as against 1.05% as on 30 September 2015 and 0.97% as on 31 December 2014.
The bank's capital adequacy ratio (CAR) as per Basel III norms stood at 15.21% as on 31 December 2015, compared with 15.54% as on 30 September 2015 and 15.96% as on 31 December 2014.
On a consolidated basis, Kotak Mahindra Bank's net profit rose 31.89% to Rs 945.16 crore on 30.56% rise in total income to Rs 6950.41 crore in Q3 December 2015 over Q3 December 2014.
Kotak Mahindra Bank said that the integration process of ING Vysya Bank with the bank is broadly on schedule and based on the current progress, the bank expects complete integration by April/May 2016. Kotak Mahindra Bank said that merger benefits in terms of revenue synergies as well as cost efficiencies have started showing traction. Some of the areas where the bank is seeing revenue synergies flowing are savings accounts growth, insurance cross sell, growth in credit cards, trinity accounts (incl. brokerage accounts) etc. Also, cost benefits are seen in employee and operating costs and in areas like utilisation of ING Vysya Bank's currency chests, space rationalization and rental savings, etc.
Kotak Mahindra Bank is one of the leading private sector banks in India. As on 31 December 2015, the bank has a network of 1,298 full-fledged branches and 1,987 ATMs.
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