Yes Bank shares zoom over 8%; mcap rises by Rs 6,184 crore after Q4 earnings

Shares of Yes Bank today surged over 8 per cent, adding Rs 6,184 crore to its market valuation, after the company reported a rise of 29 per cent in standalone net profit for the March quarter of 2017-18.

The stock soared 8.26 per cent to end at Rs 352.05 on BSE. During the day, it jumped 11 per cent to Rs 361.20.

On NSE, shares of the company advanced by 8.34 per cent to close at Rs 352.40.

Led by the sharp gain in the stock, the company's market valuation soared Rs 6,183.96 crore to Rs 81,075.96 crore.

In terms of equity volume, 38.68 lakh shares of the company were traded on BSE and over 6 crore shares changed hands on NSE during the day.

Private sector lender Yes Bank today reported a rise of 29 per cent in standalone net profit at Rs 1,179.44 crore in the March quarter of 2017-18.

The bank had logged a net profit of Rs 914.12 crore during January-March of 2016-17.

Total income grew 27.8 per cent to Rs 7,163.95 crore as against Rs 5,606.38 crore in the same quarter of 2016-17, the bank said in a regulatory filing.

On asset front, the gross non-performing assets (NPAs) of the bank were lowered to 1.28 per cent of the gross advances as on March 31, 2018 from 1.52 per cent at the end of 2016-17.