YES Bank Q1 net profit up 32.8% at Rs 731.8 crore

YES Bank posted a net profit of Rs 731.8 crore in the April - June quarter, up 32.8% from the same period last year. 

In the period, the bank's interest income grew to Rs 3862.31 crore, up from  Rs 3251.85 crore posted in the same period last year, a growth of 18.8%.

The total income of the bank went up to Rs 4,762.83 crore, up from Rs 3,797.02 crore in the same period last year. 

Gross Non Performing Advances (GNPA) as a proportion of Gross Advances at Rs 844.6 crore was 0.79% while the Net Non Performing Advances (NNPA) as a proportion of Net advances at Rs 302.4 Crores was 0.29% as at June 30, 2016. `

Commenting on the results and financial performance, Mr. Rana Kapoor, Managing Director & CEO, “YES BANK has delivered another highly satisfactory quarter of financial performance reflected in strong & quality growth, sustained profitability and continued resilience in asset quality."

Kapoor also said that the bank had received an in-principle not from the Securities & Exchange Board of India​ (Sebi) to setup an Asset Management Company (AMC) "which will further deepen our value proposition for our retail customers," he said. 

Immediately after the results, the bank's shares were trading flat but then went below the red line, down 0.19% or Rs 2.25 at Rs 1,198 apiece from previous day's close.