YES Bank falls 6% on profit booking post Q1 results

In past four months, the stock of YES Bank outperformed the market by surging 34%, as compared to 13% rise in the S&P BSE Sensex till Wednesday.

shares of YES Bank have slipped 6% to Rs 359 per share on the BSE on profit bookings after the bank reported 30.5% year on year (yoy) jumped in net profit at Rs 12.6 billion in June quarter (Q1FY19) on the back of healthy growth in net interest income (NII) & other income.

NII of the bank during the quarter under review grew by 22.7% yoy to Rs 22.19 billion; however it was lower-than-expectation of an average analyst estimate of around Rs 23 billion. The non-interest income grew by 49.6% y-o-y to Rs 16.94 billion.

The bank said,