BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Kotak Mahindra Bank Ltd. reported an in-line Q3 FY21, with profit after tax of Rs 18.5 billion (up 16% YoY), led by a pickup in loan growth, which supported net interest income, even as margin stood flat QoQ (approximately 4.5%).
On the asset quality front, slippages stood lower (aided by Supreme Court order) driving sequential improvement in asset quality ratios, while provision coverage ratio rose to ~78%.
However, pro-forma gross non-performing asset/net non-performing asset ratio increased to 3.27%/1.24% (versus 2.7%/0.74% in Q2 FY21).
The bank carries Covid-19-related provisions of Rs 12.8 billion (0.6% of advances), while it carried out fresh restructuring worth 0.28% of advances.
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