The company's earnings before interest, taxes, depreciation, and amortisation (EBITDA) rises per cent to Rs crore as against Rs 21,585 crore in the year-ago period.
Private lender YES Bank
on Friday posted a standalone net profit of Rs 207 crore, the highest since December 2018, for the period ending June 30, 2021 (Q1FY22). This is a rise of almost 355 per cent when compared with a profit of Rs 45 crore in the year-ago period.
The strong bottomline show was on the back healthy rise in non-interest income and a sharp decline in provisions.
In the previous quarter (Q4FY21), the Mumbai-based lender reported a net loss of Rs 3,788 crore.
The bank's net interest income (NII) -- the difference between the interest the bank earns and it pays out to depositors --- declined 26.5 per cent to Rs 1,402 crore in Q1 as against Rs 1,909 crore in the same quarter last year. On a sequential basis, the NII rose 42.1 per cent from Rs 987 crore.
The Bank's gross Non performing assets rose marginally to 15.6 per cent in the June quarter as against 15.41 per cent in the previous quarter (Q4FY21).
Corporate recoveries and resolutions during the quarter stood at INR 1,643 crore far outpace slippages of Rs 1,258 crore and almost entirely offsetting total slippages.
Provisions made by the bank for Q1FY22 stood at Rs 644 crore lower by 87.7 per cent Quarter-on-Quarter, the lowest since December 2018.
The net advances of the lender stood at Rs 1.63 trillion, meanwhile total deposits came in at Rs 1,63,295 crore.
Ahead of the results, YES Bank's scrip rose 0.38 per cent to close at Rs 13.05 on NSE.
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