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YES BANK Announces Quarterly Results (3QFY19); Net Profit Down 7.0%

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YES BANK Announces Quarterly Results (3QFY19); Net Profit Down 7.0%
Fri, 25 Jan

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

YES BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m50,70372,31279,58910.1%57.0%
Other incomeRs m14,22314,7358,909-39.5%-37.4%
Total revenuesRs m64,92687,04788,4981.7%36.3%
InterestRs m31,81548,13752,9259.9%66.4%
Gross Profit Rs m18,88824,17626,66410.3%41.2%
Other expensesRs m13,09315,24615,6692.8%19.7%
Profit before taxRs m15,80514,26514,4011.0%-8.9%
TaxRs m5,0364,6184,383-5.1%-13.0%
Profit after taxRs m10,7699,64710,0193.9%-7.0%
Gross profit margin %37.333.433.5
Effective tax rate%31.932.430.4
Net profit margin%21.213.312.6
* 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 57.0% on a year-on-year (YoY) basis. The interest expended was up by 66.4% YoY during the same period.
  • The bank's operating profit increased by 41.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 33.5% in 3QFY19 as against 37.3% in 3QFY18.
  • Other income declined by 37.4% YoY during the quarter.
  • Net profit for the quarter declined by 7.0% YoY. Net profit margins during the quarter declined from 21.2% in 3QFY18 to 12.6% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 10.1% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 9.9% QoQ during the same period.
  • The bank's operating profit increased by 10.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 33.5% in 3QFY19 as against 33.4% in 2QFY18.
  • Net profit for the quarter increased by 3.9% QoQ, while net profit margins declined from 13.3% in 2QFY18 to 12.6% in 3QFY19.

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 363.5 to Rs 225.9, registering a Loss of Rs 137.7 or around 37.9%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 30,689.9 (up 0.4%). Over the last one year it has moved down from 31,082.1 to 30,689.9, a gain of 392 points (down 1.3%).

Overall, the S&P BSE SENSEX is up 0.7% over the year.

Current Valuations

At the current price of Rs 225.9, the price to earnings (P/E) ratio of YES BANK stands at 11.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.0 times.

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