Kotak Mahindra Bank reported a profit after tax (PAT) of Rs 5,337 crore in Q4 of FY24, an increase of 17% year-on-year (YoY) from Rs 4,566 in Q4 of FY23. The bank marked an increase of 25% quarter-on-quarter (QoQ) from Rs 4,265 in Q3 of FY24. Additionally, the bank’s PAT for FY24 increased to Rs 18,213 crore from Rs 14,925 crore in FY23, an increase of 22% YoY.
However, the operating profit for FY24 increased to Rs 19,587 crore from Rs 14,848 crore, up 32% YoY. For Q4 of FY24, it increased to Rs 5,462 crore from Rs 4,647 crore in the same quarter of previous year, up 18% YoY and 20% QoQ from Rs 4,566 crore in Q3FY24.
The Net Interest Income (NII) for FY24 increased by 21% YoY to Rs 25,993 crore from Rs 21,552 crore in FY23. For Q4 of FY24, the NII increased to Rs 6,909 crore from Rs 6,103 crore in the same quarter of previous year, up 13% YoY and 5% QoQ from Rs 6,554 crore in Q3 of FY24.
Meanwhile, the Net Interest Margin (NIM) for Q4 of FY24 stood at 5.28%.
Notedly, CASA (current and savings account) ratio as at March 31, 2024 stood at 45.5%. Standalone Return on Assets (ROA) for FY24 was 2.61% and for Q4 of FY24 was 2.97% while Return on Equity (ROE) for FY24 was 15.34% and for Q4 of FY24 was 17.54%.
The Board of Directors of the Bank has recommended a dividend of Rs 2.00 per equity share having face value of Rs 5, for the year ended March 31, 2024, subject to approval of shareholders.