Kotak Mahindra Bank Q3 Result: Net Profit Rally 10% To Rs 3,305 Cr; NII Up 10% YoY

Kotak Mahindra Bank announced the financial results for the quarter that ended on December 31, 2024 on Saturday. PAT for the bank grew by 10% year on year to Rs 3,305 crore from Rs 3,005 crore in Q3FY24 and by 5% year over year to Rs 10,168 crore from Rs 9,648 crore in 9MFY24. Net Interest Income (NII) rose 10% YoY to Rs 7,196 crore in Q3FY25 from Rs 6,554 crore in Q3FY24 and to Rs 21,058 crore in 9MFY25 from Rs 19,084 crore in 9MFY24. For Q3FY25, the Net Interest Margin (NIM) reached 4.93%.

According to the bank, its fees and services went up 10% YoY to Rs 2,362 crore in Q3FY25 from Rs 2,144 crore in Q3FY24, and up 15% year on year to Rs 6,915 crore in 9MFY25 from Rs 5,998 crore in 9MFY24. The operating profit of Kotak Mahindra Bank grew 13% YoY to Rs 5,181 crore from Rs 4,566 crore in Q3FY24 and 10% YoY to Rs 15,534 crore from Rs 14,126 crore in Q3FY25.

In Q3FY25, average total deposits grew by 15% YoY to Rs 458,614 crore from Rs 398,908 crore in Q3FY24. In Q3FY25, average current deposits increased by 12% YoY to Rs 66,589 crore from Rs 59,337 crore in Q3FY24. In Q3FY25, average savings deposits climbed by 1% YoY to Rs 124,282 crore from Rs 123,227 crore in Q3FY24. In Q3FY25, average term deposits jumped by 24% YoY to Rs 267,743 crore from Rs 216,344 crore in Q3FY24. As of December 31, 2024, the bank's CASA ratio was 42.3%.

On December 31, 2024, GNPA was 1.50% and NNPA was 0.41% (on December 31, 2023, GNPA was 1.73% and NNPA was 0.34%). The Provision Coverage Ratio was 73% as of December 31, 2024. In comparison to Q3FY24, when it was 2.20%, the bank's standalone return on assets (ROA) for Q3FY25 (annualised) was 2.10%. According to the bank, the number of its customers as of December 31, 2024, was 5.2 cr, up from 4.8 cr in the same period of the previous fiscal year.

According to Kotak Mahindra Bank, its consolidated PAT climbed 10% year on year to Rs 4,701 crore in Q3FY25 from Rs 4,265 crore in Q3FY24 and to Rs 14,180 crore in 9MFY25 from Rs 12,876 crore in 9MFY24. As of December 31, 2024, the book value per share was Rs 769, and the consolidated net worth was Rs 152,878 crore.