YES BANK Announces Quarterly Results (2QFY19); Net Profit Down 3.8%

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YES BANK Announces Quarterly Results (2QFY19); Net Profit Down 3.8%
Fri, 9 Nov

YES BANK has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

YES BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Operating incomeRs m48,00365,78072,3129.9%50.6%
Other incomeRs m12,48416,94114,735-13.0%18.0%
Total revenuesRs m60,48882,72287,0475.2%43.9%
InterestRs m29,15343,58948,13710.4%65.1%
Gross Profit Rs m18,85122,19124,1768.9%28.2%
Other expensesRs m12,26914,58615,2464.5%24.3%
Profit before taxRs m14,59618,29114,265-22.0%-2.3%
TaxRs m4,5695,6874,618-18.8%1.1%
Profit after taxRs m10,02712,6049,647-23.5%-3.8%
Gross profit margin %39.333.733.4
Effective tax rate%31.331.132.4
Net profit margin%20.919.213.3
* 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 50.6% on a year-on-year (YoY) basis. The interest expended was up by 65.1% YoY during the same period.
  • The bank's operating profit increased by 28.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 33.4% in 2QFY19 as against 39.3% in 2QFY18.
  • Other income increased by 18.0% YoY during the quarter.
  • Net profit for the quarter declined by 3.8% YoY. Net profit margins during the quarter declined from 20.9% in 2QFY18 to 13.3% in 2QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 9.9% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 10.4% QoQ during the same period.
  • The bank's operating profit declined by 8.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 33.4% in 2QFY19 as against 33.7% in 1QFY18.
  • Net profit for the quarter declined by 23.5% QoQ, while net profit margins declined from 19.2% in 1QFY18 to 13.3% in 2QFY19.

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 up from Rs 304.7 to Rs 224.8, registering a Loss of Rs 80.0 or around 26.2%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 29,061.3 (up 0.1%). Over the last one year it has moved up from 28,634.8 to 29,061.3, a gain of 427 points (up 1.5%).

Overall, the S&P BSE SENSEX is up 5.3% over the year.

Current Valuations

At the current price of Rs 224.8, the price to earnings (P/E) ratio of YES BANK stands at 11.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.0 times.

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