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Category :
Company News
Headline :
YES Bank Q4 net profit zoomed 123.23% at Rs 451.89 cr
Date:
27/04/2024 16:40
The bank reported standalone net profit of Rs 451.89 crore for the quarter ended March 31, 2024 as compared to Rs 202.43 crore in the same period last year, registering a year-on-yearÿgrowthÿof 123.23 per cent.
Interest income of the bank rose by 19.80 per cent at Rs 7447.17 crore for the quarter ended March 31, 2024 as against Rs 6216.24 crore in the corresponding period last year.
During the January-March quarter, total income rose substantially by 23.53 per cent to Rs 9,015.77 crore from Rs 7,298.51 crore in the year ago period.
Meanwhile, operating expenses increased by 26.58 per cent to Rs 8,113.30 crore from Rs 6,409.61 crore in the same period last year.
Operating profit surged 1.53 per cent to Rs 902.47 crore from Rs. 888.90 crore.
Provisions and Contingencies slipped by 23.75 per cent at Rs 470.86 crore from Rs 617.56 crore a year ago.
NII, the difference between interest earned on loans and interest paid on deposits, increased by 2.27 per cent at Rs 2,153.02 crore versus Rs 2,105.32 crore in the year ago period. Non-interest income rose 44.94 per cent year-on-year to Rs 1,568.60 crore.
On the asset side, gross non- performing assets (NPAs)ÿfellÿto 1.70 per cent of the gross advances as at the end of March 31, 2024 from a level of 2.17 per cent year earlier. Its net NPAs or bad loans tooÿdeclinedÿto 0.60 per cent of net advances on March 31, 2024 from 0.83 per cent a year ago.
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