Kotak Mahindra Bank Q1 FY22 Preview: Profit Up 26%

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Kotak Mahindra Bank Q1 FY22 Preview: Profit Up 26%
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- Kotak Mahindra Bank Ltd. (NS: KTKM ), one of India’s largest private banks, is scheduled to release its numbers for Q1 FY22 today. Analysts expect a rise in net profit of up to 26% compared to the same period in FY21 and a single digit growth in net interest income (NII). Gross non-performing assets (GNPAs) are seen at 3.4%.

Motilal Oswal (NS: MOFS ) forecasts a 25.6% increase in profit for Kotak Mahindra Bank at Rs 1,563.4 crore and NII increasing by 7.7% to Rs 4,012 crore. Emkay Global sees only a 10% rise in profit to Rs 1,368.9 crore and NII going up by 4.5% to Rs 3,900.5 crore. All these numbers are in comparison to the corresponding quarter in FY21.

Emkay Global said, “We expect the loan book to contract QoQ, but contained credit should aid profitability.”

Motilal Oswal said that stress in the SME (small and medium enterprises) loan segment for the bank could see stress, and hence credit costs could be elevated. GNPAs were 2.7% in the corresponding quarter last year and could increase to 3.4% this year.

HDFC (NS: HDFC ) Institutional Securities forecasts a 26.2% increase in profit to Rs 1,570 crore and an increase of 5.9% in NII to Rs 4,070 crore.

Kotak Mahindra Bank shares are down 13.87% in 2021. They closed at Rs 1,717.5 on July 23.


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