Yes Bank Q4 results: Net profit more than doubles YoY to ₹454 crore, NII up 2.3%
Upstox
2 min read • Updated: April 27, 2024, 2:00 PM
Summary
Yes Bank Q4 results: The gross NPA ratio improved to 1.7%, as against 2% in the preceding quarter. The net NPA ratio also declined to 0.6% from 0.9% in Q3.
Private lender Yes Bank reported a net profit of ₹454 crore in the fourth quarter of financial year 2023-24 (Q4 FY24), which is more than double as compared to the year-ago period, a regulatory filing showed on April 27.
In the January-March period of FY23, the bank had reported a net profit of ₹202.4 crore.
The net interest income (NII) -- the difference between interest earned on loans and advances and interest paid on deposits -- climbed by 2.3% year-on-year (YoY) to ₹2,153 crore. In Q4 FY23, Yes Bank had clocked NII of ₹2,105 crore.
The net profit in Q4 FY24, at ₹454 crore, has surpassed the Street estimate of ₹427.2 crore, whereas, the NII growth of 2.3% has fell short of the estimate of 3%.
Yes Bank's asset quality improves
The gross non-performing assets (NPA) ratio improved to 1.7% in Q4 FY24, as against 2% in the preceding quarter.
The net NPA ratio also declined to 0.6% in the March 2024 quarter, as compared to 0.9% in the preceding three-month period.
In absolute terms, the gross NPA in fourth quarter stood at ₹3,982.6 crore, down from ₹4,457.4 crore in the third quarter.
The net NPA in Q4 FY24 came in at ₹1,329.7, marking a plunge as compared to ₹1,934.4 crore in Q3 FY24.
Also Read: RBL Bank Q4 Results: Net profit jumps 30% YoY at ₹353 crore, NII up 18%
Ahead of the release of quarterly results, Yes Bank's shares settled at ₹26.15 on the NSE, up 0.7% as against the previous day's close. Year-to-date, the stock has rallied by 15%.