Yes Bank shares gain nearly 3% on rise in Q1 net profit

Shares of Yes Bank rose nearly 3 per cent today after the company reported 27.7 per cent rise in net profit during the first quarter ended June, 2015.
The company's scrip ended the day with a gain of 2.65 per cent at Rs 815.70 on the BSE. In intra-day, it climbed 3.19 per cent to Rs 820.
At the NSE, the stock went up by 2.66 per cent to Rs 816.10 at close of trade.
The company's market capitalisation rose by Rs 881 crore to Rs 34,105 crore.
"Yes Bank stock was up as the bank met market expectations," said Hiren Dhakan, Associate Fund Manager, Bonanza Portfolio Ltd.

Private sector lender Yes Bank today reported 27.7 per cent rise in net profit to Rs 551.20 crore during the first quarter ended June 30, 2015-16, on higher net interest income.

Bank's net profit during the April-June quarter of the previous fiscal was Rs 431.54 crore.
Its net interest margin (NIM), the key gauge of profitability, expanded to 3.3 per cent in the first quarter of the current fiscal, from 3 per cent in the year-ago period, Yes Bank said in a filing to the BSE.
Net interest income of the bank rose by 42.2 per cent, year-on-year, to Rs 1,059.80 crore, it said.

However, the bank's asset quality slipped during the period under review, with gross Non-Performing Assets (NPAs) rising to 0.46 per cent of the gross advances as against 0.33 per cent a year ago.