YES BANK Announces Quarterly Results (1QFY22); Net Profit Up 498.4%

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YES BANK Announces Quarterly Results (1QFY22); Net Profit Up 498.4%
Mon, 26 Jul

YES BANK has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

YES BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Operating incomeRs m54,86039,87645,23913.4%-17.5%
Other incomeRs m6,3668,47310,86828.3%70.7%
Total revenuesRs m61,22648,34956,10716.0%-8.4%
InterestRs m35,77330,03131,2274.0%-12.7%
Gross Profit Rs m19,0879,84614,01242.3%-26.6%
Other expensesRs m14,13316,50115,708-4.8%11.1%
Profit before taxRs m488-50,5792,728458.5%
TaxRs m148-12,670690366.5%
Profit after taxRs m341-37,9092,038498.4%
Gross profit margin %34.824.731.0
Effective tax rate%30.325.025.3
Net profit margin%0.6-95.14.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The bank's operating income (interest earned) during the quarter fell 17.5% on a year-on-year (YoY) basis. The interest expended was down by 12.7% YoY during the same period.
  • The bank's operating profit declined by 26.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 31.0% in 1QFY22 as against 34.8% in 1QFY21.
  • Other income increased by 70.7% YoY during the quarter.
  • Net profit for the quarter increased by 498.4% YoY. Net profit margins during the quarter increased from 0.6% in 1QFY21 to 4.5% in 1QFY22.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 13.4% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 4.0% QoQ during the same period.
  • The bank's operating profit increased by 42.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 31.0% in 1QFY22 as against 24.7% in 4QFY21.
  • Net profit for the quarter increased by 105.4% QoQ, while net profit margins increased from -95.1% in 4QFY21 to 4.5% in 1QFY22.

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 13.7 to Rs 13.3, registering a Loss of Rs 0.3 or around 2.3%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 39,772.8 (down 0.2%). Over the last one year it has moved up from 25,684.4 to 39,772.8, a gain of 14,088 points (up 54.9%).

Overall, the S&P BSE SENSEX is up 39.5% over the year.

Current Valuations

At the current price of Rs 13.3, the price to book value (P/BV) ratio of YES BANK stands at 1.5 times.

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