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This article is more than 2 month old.

Yes Bank shares jump over 7% after strong Q1 results

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Yes Bank posted a net profit of Rs 207 crore in the quarter ended June 2021 as compared to Rs 45.44 crore in the year-ago period.

Yes Bank shares jump over 7% after strong Q1 results
The share price of Yes Bank rallied over 7 percent on Monday after the lender reported more than four-fold jump in net profit for the first quarter of fiscal 2022.
Yes Bank posted a net profit of Rs 207 crore in the quarter ended June 2021 as compared to Rs 45.44 crore in the year-ago period. The bank said this was its highest net profit since December 2018.
Net interest income (NII) in Q1FY22 declined 26.5 percent to Rs 1,402.1 crore versus Rs 1,908.2 crore, YoY.
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On the asset quality front, the bank’s gross non-performing assets (NPAs) during the quarter fell 0.4 percent to Rs 28,506 crore from Rs 28,609.5 crore, QoQ. Net NPAs also declined 3.7 percent to Rs 9,454.9 crore from Rs 9,813.4 crore, sequentially.
Gross NPAs rose by 20 bps to 15.60 percent of the gross advances as of June 30, 2021, from 15.4 percent in the previous quarter. Net NPAs, however, decreased by 10 bps to 5.78 percent from 5.88 percent, QoQ.
Provisions for bad loans and contingencies came down to Rs 644.43 crore in the reported quarter from Rs 1,086.61 crore earlier.
The private sector lender said its corporate recoveries/resolutions during the quarter at Rs 1,643 crore outpaced the slippages of Rs 1,258 crore.
New business generation continued for the quarter with retail disbursements of Rs 5,006 crore, SME disbursements of Rs 3,242 crore and wholesale banking disbursements of Rs 3,625 crore, it said.
At 12:40 pm, the stock was trading 3.83 percent higher at Rs 13.57 apiece on the BSE.
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