High volumes accompany Yes Bank's post result slide

Yes Bank tumbled 10.83% to Rs 391.25 at 12:16 IST on BSE after net profit surged 38.15% to Rs 400.84 crore on 30.6% growth in total income to Rs 2839.97 crore in Q1 June 2013 over Q1 June 2012.

The Q1 result was announced during trading hours today, 24 July 2013.

Meanwhile, the S&P BSE Sensex was down 276.78 points or 1.36% at 20,025.35.

The stock fell on high volumes. On BSE, 24.04 lakh shares were traded in the counter as against average daily volume of 6.02 lakh shares in past two weeks.

The stock hit a high of Rs 423.20 and a low of Rs 390.10 so far during the day.

Yes Bank's operating profit surged 47.9% to Rs 680 crore in Q1 June 2013 over Q1 June 2012. Net interest income (NII) surged 39.6% to Rs 659.10 crore while non interest income jumped 53.4% to Rs 442.10 crore in Q1 June 2013 over Q1 June 2012. Net interest margin (NIM) improved to 3% in Q1 June 2013 from 2.8% a year ago.

The bank's CASA jumped 61.1% to Rs 13163.20 crore as on 30 June 2013, from Rs 8170.20 crore as on 30 June 2012. CASA ratio improved to 20.2% from 16.3% a year ago.

Yes Bank's advances surged 24.3% to Rs 47897.60 crore as on 30 June 2013, from Rs 38533.90 crore as on 30 June 2012. Deposits grew 29.9% to year on year (YoY) to Rs 65244.80 crore as on 30 June 2013.

The bank's gross non-performing advances (NPAs) ratio stood at 0.22% and net NPAs at 0.03% as on 30 June 2013, compared to 0.28% and 0.06%, respectively as at 30 June 2012. Yes Bank said it has consistently maintained a healthy and robust asset quality with diversification across industries and customer categories.

Yes Bank's specific provisioning cover was at 88.5% as at 30 June 2013.

As per Basel III norms, the bank's Tier I capital stood at 9.5% and total CRAR stood at 15.4% as on 30 June 2013.

Commenting on the bank's Q1 performance, Mr. Rana Kapoor, MD & CEO, Yes Bank said, "Yes Bank has witnessed steady growth in net profit of 38.1%, on the back of strong NII, and continued focus on revenue diversity leading to a healthy increase in non-interest income. The bank has continued the strong traction on CASA & retail deposits with its CASA ratio crossing 20% for the first time since inception. Improved productivity, a wider and deeper branch network and continued focus on customized product offerings, have led to further growth of retail customers. I truy believe that the incremental branch expansion is an organizational imperative to further strengthen our retail offerings, which is in accordance with our Version 2.0 Vision & Strategy of achieving scale along with improving granularity and diversity".

Yes Bank is one of the leading private sector banks in India. It added 45 branches during Q1 June 2013, taking the total branch count to 475 as on 30 June 2013. The bank added 100 ATMs during the quarter, taking the total count to 1,051 ATMs as at 30 June 2013.

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