Kotak Mahindra Bank to IDFC First Bank — these cos to declare Q4 results today
Q4 results today: Amid continuous rally on Dalal Street, stock market investors and observers are supposed to remain highly vigilant about the company results as these quarterly numbers would signal fundamental status of the company and its financials. These numbers not only help intraday traders who believe in stock specific trade, it helps positional investors also who don’t bother on small-term triggers and sentiments.
For such stock market investors, it is important to note that more than 30 listed companies are going to announce their fourth quarter results for the recently ended financial year 2022-23. The list of companies that will announce their Q4 results include Kotak Mahindra Bank, IDBI Bank, Aarti Drugs, CDSL, Central Bank, IDFC First Bank, Meghmani Organics, Parag Foods, RBL Bank, Rossari Biotech, etc. These companies would announce their Q4 numbers any time today despite Saturday being a stock market holiday. So, these companies are going to keep stock market investors and observers buys on stock market holiday as well.
Here we list out highlights of Q3 earning of some of these companies:
Kotak Mahindra Bank
Kotak Mahindra Bank garnered a standalone net profit of ₹2,791.88 crore in Q3FY23 compared to ₹2,131.36 crore a year ago same quarter, registering a growth of a whopping 30.99% year-on-year. Kotak’s asset quality improved with gross NPA declining sharply, however, provisions increased during the quarter. However, Q3 PAT scaled up by 8.17% from the profit of ₹2,581 crore that was recorded in the September 2022 quarter.
IDFC First Bank
In Q3FY23, IDFC First Bank reported strong performance on all fronts including profitability, customer deposits, funded asset, capital adequacy, asset quality and net NPA. The bank’s net profit for the third quarter of FY23 climbed by 115% YoY, from Rs. 281 crore in Q3-FY22 to ₹605 crore in Q3-FY23, as a result of robust growth in core operating income. The bank’s Net Interest Income (NII) grew 27% YOY from ₹2,580 crore in Q3-FY22 to ₹3,285 crore in Q3-FY23 and Core Operating Income (NII plus Fees, excluding trading gains) grew 32% from ₹3,324 crore in Q3-FY22 to ₹4,402 crore in Q3-FY23.
IDBI Bank
IDBI Bank reported a 60 per cent rise in standalone net profit to ₹927 crore for the December 2022 quarter as asset quality improved . This is against a net profit of ₹578 crore in the year-ago period, IDBI Bank reported while announcing its Q3FY23 numbers. Net interest income (NII) which is the difference between interest earned and interest expended, came in at ₹2,925 crore for the December quarter. The latest quarter’s NII climbed by 23 per cent from ₹2,383 crore in Q3FY22 and was up by 7 per cent from ₹2,738 crore in Q2FY23.
Central Bank of India
State-owned Central Bank of India reported a 64% increase in standalone net profit to ₹458.2 crore in the December quarter of FY23.
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