Kotak Mahindra Bank’s Board of Directors approved the unaudited standalone and consolidated results for the quarter and nine months ended December 31, 2023, at a Mumbai board meeting. The Bank’s PAT for 9MFY24 increased to Rs. 9,648 crore, a 30% YoY increase from Rs. 7,444 crore in 9MFY23.
Q3FY24 PAT stood at Rs.3,005 crore, an 8% YoY increase from Rs. 2,792 crore in Q3FY23. Q3FY24 results include an Rs.143 crore provision on Alternate Investment Fund investments. The company’s Net Interest Income (NII) for 9MFY24 increased by 24% YoY to Rs. 19,084 crore, and for Q3FY24 increased to Rs. 6,554 crore, from Rs. 5,653 crore in Q3FY23, up 16% YoY. Net Interest Margin (NIM) was 5.22% for Q3FY24.
Consolidated PAT for 9MFY24 increased to Rs. 12,876 crore from Rs. 10,359 crore in 9MFY23, up 24% YoY and for Q3FY24 was Rs. 4,265 crore, up 7% YoY from Rs. 3,995 crore in Q3FY23. At the consolidated level, the Return on Assets (ROA) for Q3FY24 was 2.46% (2.76% for Q3FY23). Return on Equity (ROE) for Q3FY24 was 13.83% (15.04% for Q3FY23).
