Yes Bank on Wednesday reported a 33 per cent year-on-year jump in its June quarter profit, beating Street estimates. Yes Bank posted a net profit of Rs 732 crore in Q1, while its net interest income, which is the difference between interest earned on advances and paid on deposits, grew by 24 per cent to Rs 1,317 in the April-June period.
Analysts polled by NDTV Profit had estimated Yes Bank's net profit at Rs 699 crore and NII of Rs 1,371 crore.
Yes Bank's non-interest income jumped 65 per cent to Rs 901 crore in Q1. Non-interest income includes fee income, commissions earned from guarantees, etc. and income from selling third party products.
Yes Bank's gross non-performing assets (NPA) grew by 13 per cent sequentially to Rs 845 crore in Q1. As a percentage of total advances, it stood at 0.79 per cent compared to 0.76 per cent sequentially. Net NPAs, which is gross NPAs minus provisions, stood flat sequentially at 0.29 per cent.
Yes Bank shares ended flat at Rs 1,200.45 apiece compared to 0.29 per cent gain in the broader Nifty.
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