Yes Bank rallies after Q1 PAT spurts 355% YoY

Yes Bank jumped 5.05% to Rs 13.73 after the bank's net profit soared 355.2% to Rs 206.84 crore in Q1 FY22 from Rs 45.44 crore posted in Q1 FY21.

Total income declined 8.6% year on year (YoY) to Rs 5,581.84 crore in Q1 FY22 over Q1 FY21. Standalone operating profit dropped 20% to Rs 920 crore in Q1 FY22 from Rs 1,147 crore in Q1 FY21. The bank's profit before tax soared 358% to Rs 276 crore in Q1 FY22 over Q1 FY21.

The bank's gross non-performing assets (NPAs) stood at Rs 28,506 crore as on 30 June 2021 as against Rs 28,609.53 crore as on 31 March 2021 and Rs 32,702.70 crore as on 30 June 2020. The ratio of gross NPAs stood at 15.6% as on 30 June 2021 as against 15.41% as on 31 March 2021 and 17.30% as on 30 June 2020. The ratio of net NPAs stood at 5.78% as on 30 June 2021 as against 5.88% as on 31 March 2021 and 4.96% as on 30 June 2020.

Provision and Contingencies reduced by 41% to Rs 644 crore in Q1 FY22 over Rs 1,087 crore in Q1 FY21. Provision coverage ratio was robust stood at 79.3% at 30 June 2021 as compared to 78.6% in last quarter. Fresh slippages lower at Rs 2,233 crore compared to Rs 11,873 crore registered in last quarter, supported by provision write back due to recoveries / resolutions.

The Net Interest Income (NII) fell by 26.5% to Rs 1,402 crore in Q1 FY22 from Rs 1,908 crore posted in Q1 FY21. The Net Interest Margin (NIM) stood at 2.1% as on 30 June 2021 as against 1.6% at the end of 31 March 2021 and 3% as on 30 June 2020.

Total advances fell by 0.5% year-on-year to Rs 163,654 crore as of 30 June 2021 from Rs 164,510 crore posted in 30 June 2020. Total deposits galloped 39.1% year-on-year to Rs 163,295 crore in 30 June 2021 from Rs 117,360 crore at the end of 30 June 2020.

Yes Bank is a full service commercial bank providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers.

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