YES BANK Announces Quarterly Results (4QFY19); Net Profit Down 227.7%

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YES BANK Announces Quarterly Results (4QFY19); Net Profit Down 227.7%
Tue, 30 Apr

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

YES BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Operating incomeRs m57,43079,58978,565-1.3%36.8%
Other incomeRs m14,2108,9095,317-40.3%-62.6%
Total revenuesRs m71,64088,49883,882-5.2%17.1%
InterestRs m35,88752,92553,5061.1%49.1%
Gross Profit Rs m21,54226,66425,059-6.0%16.3%
Other expensesRs m14,39815,66917,1429.4%19.1%
Profit before taxRs m17,35814,401-23,383-262.4%-234.7%
TaxRs m5,5644,383-8,317-289.8%-249.5%
Profit after taxRs m11,79410,019-15,066-250.4%-227.7%
Gross profit margin %37.533.531.9
Effective tax rate%32.130.435.6
Net profit margin%20.512.6-19.2
* 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 36.8% on a year-on-year (YoY) basis. The interest expended was up by 49.1% YoY during the same period.
  • The bank's operating profit increased by 16.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 31.9% in 4QFY19 as against 37.5% in 4QFY18.
  • Other income declined by 62.6% YoY during the quarter.
  • Net profit for the quarter declined by 227.7% YoY. Net profit margins during the quarter declined from 20.5% in 4QFY18 to -19.2% in 4QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 1.3% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 1.1% QoQ during the same period.
  • The bank's operating profit declined by 6.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 31.9% in 4QFY19 as against 33.5% in 3QFY18.
  • Net profit for the quarter declined by 250.4% QoQ, while net profit margins declined from 12.6% in 3QFY18 to -19.2% in 4QFY19.

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 362.1 to Rs 174.0, registering a Loss of Rs 188.1 or around 51.9%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 33,362.3 (down 1.1%). Over the last one year it has moved up from 28,651.9 to 33,362.3, a gain of 4,710 points (up 16.4%).

Overall, the S&P BSE SENSEX is up 12.5% over the year.

Current Valuations

At the current price of Rs 174.0, the price to earnings (P/E) ratio of YES BANK stands at 23.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.5 times.

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