YES BANK Announces Quarterly Results (1QFY21); Net Profit Down 60.1%

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YES BANK Announces Quarterly Results (1QFY21); Net Profit Down 60.1%
Wed, 26 Aug

YES BANK has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

YES BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Operating incomeRs m78,16152,21354,8615.1%-29.8%
Other incomeRs m12,7275,9736,2073.9%-51.2%
Total revenuesRs m90,88858,18661,0675.0%-32.8%
InterestRs m55,35339,47635,779-9.4%-35.4%
Gross Profit Rs m22,80812,73719,08149.8%-16.3%
Other expensesRs m15,94417,64513,820-21.7%-13.3%
Profit before taxRs m1,750-47,659602-65.6%
TaxRs m612-10,976148-75.8%
Profit after taxRs m1,138-36,683454-60.1%
Gross profit margin %29.224.434.8
Effective tax rate%35.023.024.6
Net profit margin%1.5-70.30.8
* 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 fell 29.8% on a year-on-year (YoY) basis. The interest expended was down by 35.4% YoY during the same period.
  • The bank's operating profit declined by 16.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 34.8% in 1QFY21 as against 29.2% in 1QFY20.
  • Other income declined by 51.2% YoY during the quarter.
  • Net profit for the quarter declined by 60.1% YoY. Net profit margins during the quarter declined from 1.5% in 1QFY20 to 0.8% in 1QFY21.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 5.1% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 9.4% QoQ during the same period.
  • The bank's operating profit increased by 49.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 34.8% in 1QFY21 as against 24.4% in 4QFY20.
  • Net profit for the quarter increased by 101.2% QoQ, while net profit margins increased from -70.3% in 4QFY20 to 0.8% in 1QFY21.

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

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YES BANK Share Price Performance

Over the last one year,YES BANK share price has moved down from Rs 63.0 to Rs 14.6, registering a Loss of Rs 48.4 or around 76.8%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 26,409.7 (up 0.7%). Over the last one year it has moved down from 31,530.0 to 26,409.7, a gain of 5,120 points (down 16.2%).

Overall, the S&P BSE SENSEX is up 3.7% over the year.

Current Valuations

At the current price of Rs 14.6, the price to book value (P/BV) ratio of YES BANK stands at 0.1 times.

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For the quarter ended September 2020, YES BANK has posted a net profit of Rs 1 bn (up 121.6% YoY). Sales on the other hand came in at Rs 52 bn (down 29.0% YoY). Read on for a complete analysis of YES BANK's quarterly results.

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