YES Bank share price jumps 7.5% amid four-fold growth in Q1 profit – Check details here

The private lender YES Bank’s shares jumped 7.5 per cent to Rs 14.05 per share on the BSE intraday trade today on the back of four-fold rise in the first-quarter earnings of the financial year 2021-2022.

The bank on Friday posted the highest ever standalone net profit since December 2018 at Rs 207 crore in the June-ended quarter of FY21, as compared to Rs 45 crore in the same period a year ago.

Spectacular growth in Q1 profit on a year-on-year basis was reported on the back of a healthy rise in non-interest income and a sharp decline in provisions. The bank had reported a net loss of Rs 3,788 crore in Q4FY21. 

The net interest income (NII) of YES Bank slumped by 26.5 per cent to Rs 1,402 crore in Q1 FY22 as against Rs 1,909 crore in the same quarter last year, it grew by 42.1 per cent from Rs 987 crore on a sequential basis.

The Bank's gross non-performing assets rose marginally to 15.6 per cent in the June quarter as against 15.41 per cent in the previous quarter.

Despite opening at the day’s high level, the stock failed to sustain its strength and ended around 2 per cent higher to Rs 13.3 per share on the BSE, as compared to a 0.23 per cent decline in the S&P BSE Sensex on Monday.

In Q4FY22, corporate recoveries and resolutions stood at Rs 1,643 crore far outpace slippages of Rs 1,258 crore and almost entirely offsetting total slippages. Provisions made by the bank for Q1FY22 stood at Rs 644 crore lower by 87.7 per cent QoQ, the lowest since December 2018.

The net advances of the lender stood at Rs 1.63 trillion, meanwhile, total deposits came in at Rs 1,63,295 crore.