YES Bank Q2 Results: PAT rises 47.4% YoY to Rs 225 crore

MUMBAI – YES Bank Ltd on Saturday reported a 47.4% year-on-year (YoY) growth in net profit for the quarter ended September to Rs 225 crore. Total income from operations increased by 25% on year to Rs 7,921 crore.

Net interest income, the difference between interest earned and interest expended, declined 3.3% on year to Rs 1,925 crore. Provisions and contingencies for the quarter was Rs 500 crore, compared to Rs 583 crore a year ago.

Gross non-performing assets ratio as of September 30, was 2.0%, unchanged from the quarter-ago period, but sharply lower than 12.9% a year ago.

Net non-performing assets ratio as of September end was 0.9%, compared to 3.6% a year ago, and 1.0% a quarter ago.

Operating profit for the quarter rose a mere 1.4% on year to Rs 801 crore. The capital adequacy ratio as of September end was 17.1%, compared to 18.2% a quarter ago.

Other income during the quarter rose to Rs 1,210 crore from Rs 874 crore a year ago. Operating expenses increased to Rs 2,334 crore during the quarter, from Rs 2,075 crore a year ago.

The net tax outgo for the private sector lender in the quarter was Rs 75.8 crore, compared to Rs 54.8 crore a year ago. On Friday, shares of YES Bank ended 1.5% higher on the National Stock Exchange at Rs 17.30.

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