YES BANK Announces Quarterly Results (1QFY20); Net Profit Down 91.0%

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YES BANK Announces Quarterly Results (1QFY20); Net Profit Down 91.0%
Fri, 19 Jul

YES BANK has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

YES BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Operating incomeRs m65,78078,56578,161-0.5%18.8%
Other incomeRs m16,9415,31712,727139.4%-24.9%
Total revenuesRs m82,72283,88290,8888.4%9.9%
InterestRs m43,58953,50655,3533.5%27.0%
Gross Profit Rs m22,19125,05922,808-9.0%2.8%
Other expensesRs m14,58617,14215,944-7.0%9.3%
Profit before taxRs m18,291-23,3831,750-90.4%
TaxRs m5,687-8,317612-89.2%
Profit after taxRs m12,604-15,0661,138-91.0%
Gross profit margin %33.731.929.2
Effective tax rate%31.135.635.0
Net profit margin%19.2-19.21.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The bank's operating income (interest earned) during the quarter grew 18.8% on a year-on-year (YoY) basis. The interest expended was up by 27.0% YoY during the same period.
  • The bank's operating profit increased by 2.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 29.2% in 1QFY20 as against 33.7% in 1QFY19.
  • Other income declined by 24.9% YoY during the quarter.
  • Net profit for the quarter declined by 91.0% YoY. Net profit margins during the quarter declined from 19.2% in 1QFY19 to 1.5% in 1QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 0.5% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 3.5% QoQ during the same period.
  • The bank's operating profit declined by 9.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 29.2% in 1QFY20 as against 31.9% in 4QFY19.
  • Net profit for the quarter increased by 107.6% QoQ, while net profit margins increased from -19.2% in 4QFY19 to 1.5% in 1QFY20.

To see how YES BANK has performed over the last eight quarters,please visit here.

YES BANK Share Price Performance

Over the last one year,YES BANK share price has moved down from Rs 391.2 to Rs 84.2, registering a Loss of Rs 307.0 or around 78.5%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 34,094.6 (down 0.3%). Over the last one year it has moved up from 29,605.7 to 34,094.6, a gain of 4,489 points (up 15.2%).

Overall, the S&P BSE SENSEX is up 6.8% over the year.

Current Valuations

At the current price of Rs 84.2, the price to earnings (P/E) ratio of YES BANK stands at 33.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.7 times.

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For the quarter ended September 2019, YES BANK has posted a net profit of Rs 6 bn (down 162.2% YoY). Sales on the other hand came in at Rs 74 bn (up 2.1% YoY). Read on for a complete analysis of YES BANK's quarterly results.

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