YES BANK Announces Quarterly Results (3QFY20); Net Profit Down 1952.6%

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YES BANK Announces Quarterly Results (3QFY20); Net Profit Down 1952.6%
Mon, 16 Mar

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

YES BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Operating incomeRs m79,58973,86356,428-23.6%-29.1%
Other incomeRs m8,9099,4596,257-33.9%-29.8%
Total revenuesRs m88,49883,32262,685-24.8%-29.2%
InterestRs m52,92552,00445,781-12.0%-13.5%
Gross Profit Rs m26,66421,85910,648-51.3%-60.1%
Other expensesRs m15,66916,7346,257-62.6%-60.1%
Profit before taxRs m14,4011,222-247,722-20373.5%-1820.1%
TaxRs m4,3837,223-62,118-960.0%-1517.3%
Profit after taxRs m10,019-6,001-185,603-1952.6%
Gross profit margin %33.529.618.9
Effective tax rate%30.4591.125.1
Net profit margin%12.6-8.1-328.9
* 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 29.1% on a year-on-year (YoY) basis. The interest expended was down by 13.5% YoY during the same period.
  • The bank's operating profit declined by 60.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.9% in 3QFY20 as against 33.5% in 3QFY19.
  • Other income declined by 29.8% YoY during the quarter.
  • Net profit for the quarter declined by 1952.6% YoY. Net profit margins during the quarter declined from 12.6% in 3QFY19 to -328.9% in 3QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 23.6% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 12.0% QoQ during the same period.
  • The bank's operating profit declined by 51.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.9% in 3QFY20 as against 29.6% in 2QFY19.
  • Net profit for the quarter declined by 2993.0% QoQ, while net profit margins declined from -8.1% in 2QFY19 to -328.9% in 3QFY20.

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 245.1 to Rs 38.0, registering a Loss of Rs 207.1 or around 84.5%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 27,247.0 (down 5.7%). Over the last one year it has moved down from 32,915.0 to 27,247.0, a gain of 5,668 points (down 17.2%).

Overall, the S&P BSE SENSEX is down 14.0% over the year.

Current Valuations

At the current price of Rs 38.0, the price to book value (P/BV) ratio of YES BANK stands at 0.3 times.

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