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Yes Bank Q1 net jumps 30.5% Rs 1,260.36 crore

Private sector lender Yes Bank's net profit jumped 30.5 per cent to Rs 1,260.36 crore for the quarter ended on June 30, 2018, on the account of higher income.

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Yes Bank Q1 net jumps 30.5% Rs 1,260.36 crore
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Private sector lender Yes Bank's net profit jumped 30.5 per cent to Rs 1,260.36 crore for the quarter ended on June 30, 2018, on the account of higher income.

The bank had reported a net profit of Rs 965.52 crore in the same quarter of last fiscal.

Total income of the bank jumped to Rs 8,272.18 crore in the April-June quarter, up 42.96 per cent from Rs 5,785.96 crore in the same quarter of 2017-18, Yes Bank said in a regulatory filing.

Provisions for bad loans and contingencies, however, more than doubled to Rs 625.65 crore in the June quarter from Rs 285.78 crore in the year ago period.

Gross non-performing assets (NPAs) of the bank rose to 1.31 per cent of gross advances as on June 30, 2018, against 0.97 per cent as on June 30, 2017.

Net NPAs or bad loans were up to 0.59 per cent of net advances on June 30, 2018, from 0.39 per cent at the end of the first quarter of 2017-18.

Yes Bank reported 22.7 per cent growth in net interest income to Rs 2,219.1 crore in the first quarter while its non-interest income grew by 49.6 per cent year-on-year to Rs 1,694.1 crore.

"The growth has been well segmented...particularly Retail Business which grew 105 per cent year-on-year taking retail banking proportion in total advances to 14 per cent. The exponential growth momentum in retail...is further expected to increase granularity in the bank's asset and liabilities over the quarters to come," Yes Bank Managing Director & CEO Rana Kapoor said.

NIM, a key parameter to gauge profitability of a bank, was at 3.3 per cent during the reported quarter.

Yes Bank stock was trading 2.82 per cent lower at Rs 372.65 apiece on BSE. 

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