YES Bank Q3 profit rises 76.8% YoY to ₹266.4 cr
Yes Bank's net interest income, however, declined 31 per cent Y-o-Y to ₹1,764 crore, while other income dipped 32 per cent to ₹734 crore
Yes Bank on Saturday reported a 76.8% year on year rise in net profit at ₹266.4 crore in October-December quarter of FY22 as compared to ₹150.7 crore profit during the same quarter last year. The private lender's profit rose 18.2 per cent on quarter on quarter basis from ₹225 crore, while operating profit was up 7.7 per cent on Q-o-Q basis and down 66.4 per cent on YoY basis.
YES Bank's total net income in Q3 FY22 dipped by 31.5 per cent to ₹2,498 crore in October-December 2021 quarter as against ₹3,648 crore recorded in the corresponding period of previous year.
Yes Bank's net interest income, however, declined 31 per cent YoY to ₹1,764 crore in Q3 FY22 compared to ₹2,560 crore recorded in the corresponding quarter of 2020-21, while it grew at 16.6 per cent on Q-o-Q basis, Yes Bank said in a stock exchange filing.
The bank's other or non-interest income in the said quarter stood at ₹734 crore vs ₹1,087 crore recorded in the third quarter of 2020-21.
The bank's GNPA ratio further improved to 14.7 per cent, vs 15.0 per cent last quarter, led by lower slippages at ₹978 crore vs ₹1,783 crore in Q2 FY22.
Yes Bank's resolution momentum has continued with ₹610 crore of cash recoveries and ₹573 crore of upgrades during Q3 FY22. The balance sheet also stayed above ₹3 lakh crore for first time since Sept 2019, up 6 per cent Q-o-Q.
Meanwhile, YES Bank stock closed at ₹13.85, up ₹0.050 or 0.36 per cent, on the NSE on Friday.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!