Kotak Mahindra Financial institution This autumn Outcomes: Web Revenue Jumps 18% YoY To Rs 4,133.3 Crore, Pronounces Rs 2 Dividend

Kotak Mahindra Financial institution on Could 4 reported an 18 per cent year-on-year (YoY) bounce in its web revenue to Rs 4,133.3 crore for the fourth quarter ended March 2024 (This autumn FY24). Its web curiosity earnings (NII) throughout January-March 2024 elevated to Rs 6,909 crore, a 13 per cent rise from Rs 6,103 crore within the year-ago interval.

Its web revenue had stood at Rs 3,496 crore within the corresponding interval final 12 months, in line with a regulatory submitting.

Kotak Mahindra Financial institution’s web curiosity margin (NIM) stood at 5.28 per cent for Q4FY24.

Kotak Mahindra Financial institution’s board additionally authorised a dividend of Rs 2 per fairness share for the monetary 12 months 2023-24.

“The board of administrators of the financial institution has beneficial dividend of Rs 2.00 per fairness share having face worth of Rs 5, for the 12 months ended March 31, 2024, topic to approval of shareholders,” Kotak Mahindra Financial institution said.

For the complete monetary 12 months 2023-24, Kotak Mahindra Financial institution’s web revenue jumped 26 per cent to Rs 13,782 crore, in contrast with Rs 10,939 crore a 12 months in the past.

Clients as of March 31, 2024, elevated to five crore, in contrast with 4.1 crore a 12 months in the past.

The lender’s asset high quality improved throughout FY24. As at March 31, 2024, its gross non-performing property (GNPA) stood at 1.39 per cent and web NPA at 0.34 per cent (GNPA was 1.78 per cent and NNPA was 0.37 per cent at March 31, 2023).

Kotak’s capital adequacy ratio, as per Basel III, as at March 31, 2024, was 20.5 per cent and CET-1 ratio of 19.2 per cent.