Yes Bank rises on strong Q4 earnings
The bank's net non-performing assets (NPA) declined to 0.01% in Q4FY13 from 0.04% in year ago quarter.
Yes Bank has moved higher by 3% to Rs 484 on reporting a strong 33% year-on-year (yoy) jump in net profit at Rs 362 crore for the quarter ended March 2013 (Q4) on back of higher interest and other income.
“The net interest income (NII) increased 42% to Rs 638 crore from Rs 448 crore during the recently concluded quarter,” Yes Bank said in a statement.
The bank’s income from other sources surged to Rs 379 crore in Q4FY2013 as against Rs 266 crore in a year ago period. Net non-performing assets (NPA) declined to 0.01% from 0.04% during the same period.
The board of directors of private sector bank has recommended a final dividend Rs 6 per equity share (60%) on face value of Rs 10 per share for the financial year 2012-13.
Meanwhile, the board has also approved fund raising up to $ 500 million in one or more tranches through multiple options including Qualified Institutional Placement (QIP).
The stock opened at Rs 474 and hit a high of Rs 488 on NSE. A combined 5.65 million shares changed hands on the counter on NSE and BSE till 1307 hours.
“The net interest income (NII) increased 42% to Rs 638 crore from Rs 448 crore during the recently concluded quarter,” Yes Bank said in a statement.
The bank’s income from other sources surged to Rs 379 crore in Q4FY2013 as against Rs 266 crore in a year ago period. Net non-performing assets (NPA) declined to 0.01% from 0.04% during the same period.
The board of directors of private sector bank has recommended a final dividend Rs 6 per equity share (60%) on face value of Rs 10 per share for the financial year 2012-13.
Meanwhile, the board has also approved fund raising up to $ 500 million in one or more tranches through multiple options including Qualified Institutional Placement (QIP).
The stock opened at Rs 474 and hit a high of Rs 488 on NSE. A combined 5.65 million shares changed hands on the counter on NSE and BSE till 1307 hours.