Kotak Mahindra Bank Q4FY24 results: PAT jumps 26% YoY, NII rises 21%

2 weeks ago 6

1 min read 04 May 2024, 01:00 PM IST

Kotak Mahindra Bank Q4FY24 results: The Bank’s PAT for FY24 accrued to ₹13,782 crore from ₹10,939 crore successful FY23

Kotak Mahindra Bank Q4FY24 results: The Board of Directors of Kotak Mahindra Bank (“the Bank") approved the audited standalone and consolidated results for the 4th and fiscal twelvemonth ended March 31, 2024, astatine the Board gathering held successful Mumbai, today. The Bank’s PAT for FY24 accrued to ₹13,782 crore from ₹10,939 crore successful FY23, up 26% YoY. PAT for Q4FY24 stood astatine ₹4,133 crore, up 18% YoY from ₹3,496 crore successful Q4FY23 (up 38% QoQ from ₹3,005 crore successful Q3FY24).

Net Interest Income (NII) for FY24 accrued to ₹25,993 crore, from ₹21,552 crore successful FY23, up 21% YoY and for Q4FY24 accrued to ₹6,909 crore, from ₹6,103 crore successful Q4FY23, up 13% YoY (up 5% QoQ from ₹6,554 crore successful Q3FY24). Net Interest Margin (NIM) was 5.28% for Q4FY24.

Fees and services for FY24 accrued to ₹8,464 crore from ₹6,790 crore successful FY23, up 25% YoY and for Q4FY24 accrued to ₹2,467 crore from ₹1,928 crore successful Q4FY23, up 28% YoY (up 15% QoQ from ₹2,144 crore successful Q3FY24). Operating costs accrued to ₹16,679 crore successful FY24 ( ₹13,787 crore successful FY23). Technology expenses were 10% of full operating outgo successful FY24.

Operating nett for FY24 accrued to ₹19,587 crore from ₹14,848 crore, up 32% YoY and for Q4FY24 accrued to ₹5,462 crore from ₹4,647 crore successful Q4FY23, up 18% YoY (up 20% QoQ from ₹4,566 crore successful Q3FY24).

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Published: 04 May 2024, 12:52 PM IST