Kotak Mahindra Bank gains after good Q4 results

Kotak Mahindra Bank rose 1.09% to Rs 729.40 at 15:25 IST on BSE after the bank announced good Q4 results during trading hours today, 11 May 2016.

Meanwhile, the BSE Sensex was down 166.84 points, or 0.65%, to 25,605.69.

On BSE, so far 2.28 lakh shares were traded in the counter, compared with an average volume of 4.70 lakh shares in the past one quarter. The stock hit a high of Rs 736.60 and a low of Rs 715.70 so far during the day. The stock hit a record high of Rs 744.45 on 21 July 2015. The stock hit a 52-week low of Rs 586.50 on 29 February 2016. The stock had outperformed the market over the past one month till 10 May 2016, rising 8.50% compared with 4.45% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 8.15% as against Sensex's 8.48% rise.

The large-cap company has an equity capital of Rs 917.31 crore. Face value per share is Rs 5.

Kotak Mahindra Bank's net profit rose 31.99% to Rs 695.78 crore on 52.27% increase in total income to Rs 4947.32 crore in Q4 March 2016 over Q4 March 2015.

The bank's gross non-performing assets (NPAs) stood at Rs 2838.11 crore as on 31 March 2016 as against Rs 2690.34 crore as on 31 December 2015 and Rs 1237.23 crore as on 31 March 2015.

The ratio of gross NPAs to gross advances stood at 2.36% as on 31 March 2016 as against 2.30% as on 31 December 2015 and 1.85% as on 31 March 2015.

The ratio of net NPAs to net advances stood at 1.06% as on 31 March 2016 as against 0.96% as on 31 December 2015 and 0.92% as on 31 March 2015.

The bank's provisions and contingencies rose 199.4% to Rs 200.41 crore in Q4 March 2016 over Q4 March 2015.

The bank's net profit rose 11.99% to Rs 2089.78 crore on 61.69% increase in total income to Rs 18996.42 crore in the year ended March 2016 over the year ended March 2015.

On a consolidated basis, Kotak Mahindra Bank's net profit rose 15.63% to Rs 1055.23 crore on 28.16% increase in total income to Rs 7910.41 crore in Q4 March 2016 over Q4 March 2015.

On a consolidated basis, Kotak Mahindra Bank's net profit rose 13.57% to Rs 3458.85 crore on 30.58% increase in total income to Rs 27974.52 crore in the year ended March 2016 over the year ended March 2015.

The results are not comparable due to merger of ING Vysya Bank with Kotak Mahindra Bank, which took effect from 1 April 2015.

Kotak Mahindra Bank is one of the leading private sector banks in India.

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