YES Bank stock hits record high on 32% increase in Q1 net

Meanwhile, YES Bank's board on Wednesday approved a 5-for-1 stock split of equity shares

YES Bank surged 4.48 per cent to Rs 1,789.35 at 14:10 IST on BSE, with the stock extending Wednesday's rally triggered by a good Q1 result.

Meanwhile, the S&P BSE Sensex was up 157.78 points or 0.49 per cent at 32,540.24

On the BSE, 6.28 lakh shares were traded on the counter so far as against the average daily volumes of 2.47 lakh shares in the past quarter.

The stock hit a high of Rs 1,796.50 in intraday trade so far, which is a record high for the counter. The stock hit a low of Rs 1,741 so far during the day. The stock had hit a 52-week low of Rs 1,091.25 on 26 December 2016.

The large-cap bank has equity capital of Rs 457.64 crore. Face value per share is Rs 10.

YES Bank's net profit rose 31.93 per cent to Rs 965.52 crore on 21.48 per cent growth in total income to Rs 5,785.96 crore in the first quarter (Q) of the current financial year (FY) over Q1FY17. The result was announced during market hours on Wednesday when the stock gained 6.1 per cent to settle at Rs 1,712.55.

Meanwhile, YES Bank's board at its meeting held on Wednesday approved a 5-for-1 stock split of equity shares.

The bank's gross non-performing assets (NPAs) stood at Rs 1,364.38 crore as on June 30, 2017, as against Rs 2,018.56 crore as on March 31, 2017, and Rs 844.56 crore as on June 30, 2016.

The ratio of gross NPAs to gross advances stood at 0.97 per cent in Q1FY18 as against 1.52 per cent in Q4FY17 and 0.79 per cent in Q1FY17. The ratio of net NPAs to net advances stood at 0.39 per cent in Q1FY18 as against 0.81 per cent in Q4FY17 and 0.29 per cent in Q1FY17.

The bank's net interest income (NII) grew by 44 per cent to Rs 1,808.90 crore in Q1 year-on-year (y-o-y). Net interest margin (NIM) expanded to 3.7 per cent in Q1FY18 from 3.6 per cent in Q1FY17.

Commenting on the results and financial performance, Rana Kapoor, managing director & chief executive officer (CEO), YES Bank said that the bank continues to garner market share in its various corporate and micro, small and medium enterprises (MSMEs) while maintaining superior asset quality parameters.

YES Bank is one of the leading private sector banks in India. The bank's branch network stood at 1,020 branches and ATM network stood at 1,796 as on 30 June 2017.