YES BANK Announces Quarterly Results (2QFY20); Net Profit Down 162.2%

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YES BANK Announces Quarterly Results (2QFY20); Net Profit Down 162.2%
Mon, 4 Nov

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

YES BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Operating incomeRs m72,31278,16173,863-5.5%2.1%
Other incomeRs m14,73512,7279,459-25.7%-35.8%
Total revenuesRs m87,04790,88883,322-8.3%-4.3%
InterestRs m48,13755,35352,004-6.1%8.0%
Gross Profit Rs m24,17622,80821,859-4.2%-9.6%
Other expensesRs m15,24615,94416,7345.0%9.8%
Profit before taxRs m14,2651,7501,222-30.2%-91.4%
TaxRs m4,6186127,2231079.8%56.4%
Profit after taxRs m9,6471,138-6,001-627.5%-162.2%
Gross profit margin %33.429.229.6
Effective tax rate%32.435.0591.1
Net profit margin%13.31.5-8.1
* 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 2.1% on a year-on-year (YoY) basis. The interest expended was up by 8.0% YoY during the same period.
  • The bank's operating profit declined by 9.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 29.6% in 2QFY20 as against 33.4% in 2QFY19.
  • Other income declined by 35.8% YoY during the quarter.
  • Net profit for the quarter declined by 162.2% YoY. Net profit margins during the quarter declined from 13.3% in 2QFY19 to -8.1% in 2QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 5.5% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 6.1% QoQ during the same period.
  • The bank's operating profit declined by 4.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 29.6% in 2QFY20 as against 29.2% in 1QFY19.
  • Net profit for the quarter declined by 627.5% QoQ, while net profit margins declined from 1.5% in 1QFY19 to -8.1% in 2QFY20.

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

Just Released: The No. 1 Stock to Buy in 2020

YES BANK Share Price Performance

Over the last one year,YES BANK share price has moved down from Rs 209.4 to Rs 68.2, registering a Loss of Rs 141.2 or around 67.4%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 34,517.8 (up 0.9%). Over the last one year it has moved up from 29,016.4 to 34,517.8, a gain of 5,501 points (up 19.0%).

Overall, the S&P BSE SENSEX is up 17.2% over the year.

Current Valuations

At the current price of Rs 68.2, the price to book value (P/BV) ratio of YES BANK stands at 0.6 times.

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For the quarter ended June 2019, YES BANK has posted a net profit of Rs 1 bn (down 91.0% YoY). Sales on the other hand came in at Rs 78 bn (up 18.8% YoY). Read on for a complete analysis of YES BANK's quarterly results.

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