Yes Bank vaults on high volume after Q3 result

Yes Bank jumped 15.48% to Rs 227.85 at 15:21 IST on BSE after the private sector bank declared Q3 December 2018 result during market hours today, 24 January 2019.

Meanwhile, the S&P BSE Sensex was up 118.40 points, or 0.33% to 36,226.87

The stock surged on high volume. On the BSE, 1.01 crore shares were traded in the counter so far compared with average daily volumes of 47.61 lakh shares in the past two weeks. The stock had hit a high of Rs 229.40 and a low of Rs 189.10 so far during the day. The stock hit a 52-week high of Rs 404 on 20 August 2018. The stock hit a 52-week low of Rs 147 on 29 November 2018.

Yes Bank's net profit fell 6.96% to Rs 1001.85 crore on 36.3% rise in total income to Rs 8849.81 crore in Q3 December 2018 over Q3 December 2017.

Net interest income grew 41.2% to Rs 2666.4 crore in Q3 December 2018 over Q3 December 2017. Net provisions at Rs 550.2 crore on account of Rs 570.8 crore of accelerated provisioning on exposure to a stressed infrastructure conglomerate.

Gross non performing assets (GNPA) stood at 2.10%, net non performing assets (NNPA) at 1.18% and provisioning coverage ratio (PCR) at 44.2% in Q3 December 2018. Excluding the extraordinary impact of aggregate exposure to a stressed infrastructure conglomerate, GNPA improved sequentially to 1.32% from 1.60% last quarter, NNPA improved to 0.59% from 0.84% last quarter and PCR improved to 55.6% from 47.8%.

The bank has received RBI approval for its new MD & CEO, Ravneet Singh Gill for him to join on or before 1 March 2019.

Commenting on the results and financial performance, Rana Kapoor, Managing Director & CEO, Yes Bank said, the bank has once again delivered satisfactory performance across income growth, margins, profitability and capital accretion, despite the recognition and provision impact from a stressed infrastructure conglomerate. Retail Assets growth momentum continues, while growth in corporate business segments has been rebalanced after witnessing strong market share driven growth over the last few preceding quarters.

Yes Bank is India's fourth largest private sector bank. As on 31 December 2018, branch network stood at 1,115 branches and ATM network stood at 1,714.

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