YES BANK Announces Quarterly Results (3QFY21); Net Profit Up 100.8%

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YES BANK Announces Quarterly Results (3QFY21); Net Profit Up 100.8%
Mon, 25 Jan

YES BANK has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

YES BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Operating incomeRs m56,42852,45453,2111.4%-5.7%
Other incomeRs m6,2577,06811,97369.4%91.4%
Total revenuesRs m62,68559,52165,1849.5%4.0%
InterestRs m45,78132,72027,607-15.6%-39.7%
Gross Profit Rs m10,64819,73425,60429.7%140.5%
Other expensesRs m16,96913,20114,72111.5%-13.2%
Profit before taxRs m-247,7221,727867-49.8%
TaxRs m-62,118433-640-247.8%
Profit after taxRs m-185,6031,2941,50716.5%
Gross profit margin %18.937.648.1
Effective tax rate%25.125.1-73.8
Net profit margin%-328.92.52.8
* 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 5.7% on a year-on-year (YoY) basis. The interest expended was down by 39.7% YoY during the same period.
  • The bank's operating profit increased by 140.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 48.1% in 3QFY21 as against 18.9% in 3QFY20.
  • Other income increased by 91.4% YoY during the quarter.
  • Net profit for the quarter increased by 100.8% YoY. Net profit margins during the quarter increased from -328.9% in 3QFY20 to 2.8% in 3QFY21.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 1.4% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 15.6% QoQ during the same period.
  • The bank's operating profit increased by 29.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 48.1% in 3QFY21 as against 37.6% in 2QFY20.
  • Net profit for the quarter increased by 16.5% QoQ, while net profit margins increased from 2.5% in 2QFY20 to 2.8% in 3QFY21.

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 42.8 to Rs 16.5, registering a Loss of Rs 26.3 or around 61.4%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 35,792.7 (up 1.2%). Over the last one year it has moved up from 35,667.7 to 35,792.7, a gain of 125 points (up 0.4%).

Overall, the S&P BSE SENSEX is up 18.2% over the year.

Current Valuations

At the current price of Rs 16.5, the price to book value (P/BV) ratio of YES BANK stands at 0.2 times.

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For the quarter ended September 2020, YES BANK has posted a net profit of Rs 1 bn (up 121.6% YoY). Sales on the other hand came in at Rs 52 bn (down 29.0% YoY). Read on for a complete analysis of YES BANK's quarterly results.

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