Q1 Results 18th July Highlights: Kotak Mahindra, YES Bank drive Q1 with 23%, 34% profit jump; ICICI up 16%, HDFC and IDBI post 5% growth

(PTI) JK Cement Ltd on Saturday reported a 15.3 per cent decline in consolidated net profit to Rs 274.62 crore for the June quarter.

It had posted a profit of Rs 324.25 crore in the year-ago period, according to a regulatory filing from JK Cement Ltd (JKCL).

Revenue from operations was up 20.25 per cent at Rs 4,031.72 crore in the June quarter from Rs 3,352.53 crore a year ago.

IDBI Bank reported a net profit of ₹2,115 crore for the first quarter of FY 2026-27, a 5 per cent increase year-on-year and 9 per cent sequentially, as the Mumbai-based lender continued to improve asset quality and grow its loan book.

Net Interest Income rose 10 per cent year-on-year to ₹3,486 crore, though it declined 9 per cent from the previous quarter. Net Interest Margin stood at 3.61 per cent. Operating profit for the quarter was ₹2,168 crore.

Loan growth was the standout metric. Net advances grew 22 per cent year-on-year to ₹2,58,968 crore as of June 30, 2026, while total deposits rose 10 per cent to ₹3,25,757 crore. Total business crossed ₹5.84 lakh crore, up 15 per cent over the same period last year. The bank’s retail-to-corporate loan mix stood at 70:30.

Asset quality continued to improve. Gross NPA ratio fell to 2.30 per cent from 2.93 per cent a year ago, and Net NPA declined to 0.16 per cent from 0.21 per cent. Provision Coverage Ratio remained strong at 99.31 per cent, a level the bank has maintained since September 2023.

Capital adequacy strengthened to 26.92 per cent, up 153 basis points year-on-year, with Tier 1 Capital at 26.38 per cent. Return on Assets stood at 1.89 per cent, up 14 basis points quarter-on-quarter.

On the cost side, Cost of Deposits eased to 4.59 per cent from 4.84 per cent a year earlier, and Cost of Funds declined 30 basis points year-on-year to 4.68 per cent.

During the quarter, IDBI Bank received the APY Annual Award of Ultimate Achiever from the Ministry of Finance for Atal Pension Yojana enrolment, launched a nationwide hackathon called IDBI Innovate 2026, and was recognised at the Internal Audit Excellence Awards 2026 for its AI-enabled audit system.

HDFC Bank on Saturday reported a standalone profit after tax of ₹190.6 billion for the first quarter of FY27, up 5 per cent year-on-year, as strong loan and deposit growth offset a sharp decline in non-interest income.

Net interest income grew 6.7 per cent year-on-year to ₹335.3 billion, while net interest margin stood at 3.26 per cent on total assets. However, non-interest income fell 41% year-on-year to ₹128.2 billion, largely due to high transaction gains booked in the year-ago quarter related to the HDB Financial Services IPO. Excluding those one-time gains, the bank said adjusted profit after tax grew approximately 9.8 per cent year-on-year.

Gross advances rose 15.4 per cent year-on-year to ₹30,608 billion at end-June 2026, while average deposits climbed 13.3 per cent year-on-year to ₹30,115 billion. The bank’s CASA ratio, however, declined to 32 per cent from 34 per cent a year earlier, as customers continued to shift toward higher-yielding time deposits.

Asset quality remained broadly stable. The gross non-performing assets ratio stood at 1.17 per cent, or 0.91 per cent excluding agriculture loans. The net NPA ratio held at 0.4 per cent. Total provisions were ₹724 billion, including a contingent buffer of ₹156 billion.

The bank’s capital adequacy ratio stood at 19.6 per cent, with CET1 at 17.4 per cent, well above regulatory requirements. The liquidity coverage ratio averaged 115 per cent for the quarter.

On a consolidated basis, which includes subsidiaries such as HDB Financial Services, HDFC Life Insurance, and HDFC AMC, the bank reported a profit of ₹192.4 billion, up 18.4 per cent year-on-year. The bank’s branch network stood at 9,694 as of June 2026. Standalone earnings per share for the quarter were ₹12.4.

ICICI Bank reported a 15.9 per cent year-on-year increase in standalone profit after tax to ₹14,805 crore for the quarter ended June 30, 2026 (Q1FY27), up from ₹12,768 crore in the same period last year.

Net interest income grew 12.7 per cent year-on-year to ₹24,384 crore, while net interest margin stood at 4.36 per cent, marginally higher than the 4.34 per cent recorded in Q1FY26. Fee income rose 23.5 per cent to ₹7,286 crore, with retail, rural, and business banking customers contributing roughly 72 per cent of total fees.

Total advances grew 19.6 per cent year-on-year to ₹16,31,260 crore. The business banking portfolio expanded 28.2 per cent year-on-year, the rural portfolio 35.4 per cent, and the domestic corporate portfolio 18.5 per cent. Total deposits rose 14.0 per cent to ₹18,33,586 crore, with the average CASA ratio at 38.1 per cent during the quarter.

Asset quality remained broadly stable. The gross NPA ratio improved to 1.38 per cent from 1.67 per cent a year ago, and the net NPA ratio stood at 0.35 per cent. The provisioning coverage ratio on non-performing loans was 74.7 per cent. The bank wrote off gross NPAs of ₹1,673 crore during the quarter.

The capital adequacy ratio on a standalone basis was 16.84 per cent, well above the regulatory minimum, with the CET-1 ratio at 16.19 per cent.

On a consolidated basis, profit after tax rose to ₹15,440 crore from ₹13,558 crore a year earlier. Consolidated assets grew 12.5% to ₹30,02,407 crore.

The Board also approved the appointment of Mr. Mrugank Paranjape as an Additional Independent Director for a five-year term beginning August 1, 2026, subject to shareholder approval at the 32nd Annual General Meeting scheduled for August 21, 2026.

YES Bank reported a 33.7 per cent year-on-year rise in net profit to ₹1,071 crore for the quarter ended June 30, 2026, driven by stronger core earnings even as gains from security receipts and treasury income fell sharply.

Net Interest Income grew 17.5 per cent year-on-year to ₹2,786 crore, while the Net Interest Margin held steady at 2.7 per cent, up 20 basis points from the same quarter last year. The cost of deposits declined 50 basis points year-on-year to 5.4 per cent, aiding margin stability.

Operating profit rose 25.5 per cent year-on-year to ₹1,704 crore. The cost-to-income ratio improved to 62.8 per cent from 67.1 per cent a year ago, as operating expenses grew only 4.1 per cent year-on-year against total income growth of 11.2 per cent. Return on Assets stood at 0.9 per cent, up from 0.8 per cent in Q1FY26.

Net advances grew 18.3 per cent year-on-year to ₹2,85,118 crore, led by Corporate and Institutional Banking, which expanded 41.4 per cent year-on-year. Total deposits rose 14.3 per cent to ₹3,15,373 crore. The CASA ratio stood at 32.7 per cent.

Asset quality showed continued improvement. Gross NPA ratio declined 30 basis points year-on-year to 1.3 per cent, while the Net NPA ratio fell to 0.2 per cent. Gross slippages dropped to ₹964 crore, their lowest in several quarters, and retail slippages hit a 10-quarter low.

The quarter also brought multiple credit rating upgrades. Moody’s upgraded the bank to Ba1 from Ba2, while CARE raised its long-term rating to AA+. ICRA upgraded its infrastructure bond rating to AA, and S&P Global assigned an inaugural BB+ international rating.

MD and CEO Vinay M. Tonse said the bank delivered higher core earnings despite a sharp fall in security receipt gains, describing it as evidence of franchise strengthening. The bank’s CET-1 capital ratio stood at 14.0 per cent.

The India Cements Limited on Saturday reported a standalone net profit of ₹26.62 crore for the quarter ended June 30, 2026, swinging back from a loss of ₹7.53 crore in the same quarter last year.

Revenue from operations stood at ₹1,019.42 crore for the quarter, marginally lower than ₹1,024.74 crore in the year-ago period. Total income, including other income of ₹3.20 crore, came in at ₹1,022.62 crore.

Operating profit before exceptional items and tax was ₹60.85 crore, compared to a loss of ₹10.01 crore in Q1 FY26. However, exceptional items of ₹25.28 crore — comprising a profit on sale of assets of ₹29.98 crore offset by a provision of ₹55.26 crore for disputed liabilities — brought profit before tax down to ₹35.57 crore. After a deferred tax charge of ₹8.95 crore, net profit stood at ₹26.62 crore.

Power and fuel costs remained the largest expense at ₹423.62 crore. Freight and forwarding expenses fell sharply to ₹20.15 crore from ₹199.55 crore a year ago. Basic earnings per share were ₹0.86 for the quarter.

On a consolidated basis, the company reported a net profit of ₹26.85 crore against a loss of ₹132.91 crore in Q1 FY26. Consolidated net worth rose to ₹10,152.03 crore.

During the quarter, the company issued commercial paper worth ₹100 crore at a discount rate of 6.85 per cent, due for redemption on September 23, 2026, carrying a CARE A1+ rating.

Kotak Mahindra Bank reported a standalone net profit of ₹4,123 crore for the quarter ended June 30, 2026, a 26 per cent rise year-on-year from ₹3,282 crore in Q1FY26. On a consolidated basis, the bank’s profit after tax stood at ₹5,480 crore, up 23 per cent year-on-year.

Net Interest Income grew 9 per cent year-on-year to ₹7,928 crore, while Net Interest Margin came in at 4.53 per cent, narrowing slightly from 4.65 per cent in Q1FY26. The bank attributed the margin compression partly to a lower cost of funds, which declined to 4.46 per cent from 5.01 per cent a year ago.

Provisions fell sharply, down 45 per cent year-on-year to ₹668 crore, reflecting an improvement in asset quality. Gross NPA declined to 1.18 per cent from 1.48 per cent a year earlier, while Net NPA improved to 0.27 per cent from 0.34 per cent. Slippages dropped 27 per cent year-on-year to ₹1,321 crore.

Net advances grew 15 per cent year-on-year to ₹5,12,249 crore as of June 30, 2026. Total deposits rose 12 per cent to ₹5,72,820 crore, though the CASA ratio dipped marginally to 40.3 per cent from 40.9 per cent a year ago. The credit-to-deposit ratio stood at 89.4 per cent.

Among key subsidiaries, Kotak Securities posted a profit of ₹533 crore, Kotak Asset Management earned ₹399 crore, and Kotak Mahindra Prime reported ₹354 crore. The bank’s standalone Return on Assets stood at 2.14 per cent and Return on Equity at 11.98 per cent on an annualised basis.

The Capital Adequacy Ratio remained strong at 22.8 per cent under Basel III norms, with a CET1 ratio of 22.4 per cent. The bank served 5.0 crore customers as of June 30, 2026, and operates 2,301 branches and 2,734 ATMs nationally.