YES BANK Announces Quarterly Results (4QFY20); Net Profit Down 143.5%

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YES BANK Announces Quarterly Results (4QFY20); Net Profit Down 143.5%
Thu, 7 May

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

YES BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Operating incomeRs m78,56556,42852,213-7.5%-33.5%
Other incomeRs m5,3176,2575,973-4.5%12.3%
Total revenuesRs m83,88262,68558,186-7.2%-30.6%
InterestRs m53,50645,78139,476-13.8%-26.2%
Gross Profit Rs m25,05910,64812,73719.6%-49.2%
Other expensesRs m17,14216,96917,6454.0%2.9%
Profit before taxRs m-23,383-247,722-47,659
TaxRs m-8,317-62,118-10,976
Profit after taxRs m-15,066-185,603-36,683
Gross profit margin %31.918.924.4
Effective tax rate%35.625.123.0
Net profit margin%-19.2-328.9-70.3
* 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 33.5% on a year-on-year (YoY) basis. The interest expended was down by 26.2% YoY during the same period.
  • The bank's operating profit declined by 49.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 24.4% in 4QFY20 as against 31.9% in 4QFY19.
  • Other income increased by 12.3% YoY during the quarter.
  • Net profit for the quarter declined by 143.5% YoY. Net profit margins during the quarter declined from -19.2% in 4QFY19 to -70.3% in 4QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter fell 7.5% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 13.8% QoQ during the same period.
  • The bank's operating profit increased by 19.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 24.4% in 4QFY20 as against 18.9% in 3QFY19.
  • Net profit for the quarter increased by 80.2% QoQ, while net profit margins increased from -328.9% in 3QFY19 to -70.3% in 4QFY20.

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 164.6 to Rs 28.5, registering a Loss of Rs 136.1 or around 82.7%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 22,296.2 (down 1.3%). Over the last one year it has moved down from 32,704.1 to 22,296.2, a loss of 10,408 points (down 31.8%).

Overall, the S&P BSE SENSEX is down 18.3% over the year.

Current Valuations

At the current price of Rs 28.5, the price to book value (P/BV) ratio of YES BANK stands at 0.2 times.

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For the quarter ended December 2019, YES BANK has posted a net profit of Rs 186 bn (down 1952.6% YoY). Sales on the other hand came in at Rs 56 bn (down 29.1% YoY). Read on for a complete analysis of YES BANK's quarterly results.

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