YES Bank Q1 Results Highlights: Net profit rises 46% to ₹502 crore driven by provisions

Prashant Kumar, Managing Director & CEO at YES Bank, said the lender has started FY25 on a strong footing with RoA sustaining at 0.5% despite seasonality of Q1 and “Nil priority sector lending (PSL) shortfalls.”

Highest quarterly profit since reconstruction in Q1, bank maintained RoA at 0.5 per cent for second consecutive quarter; Targeting 16-17 per cent credit growth and 20-22 per cent deposit growth for the year

Gross NPA At ₹3,845 Cr Vs ₹3,982.6 Cr (QoQ)

Net NPA At ₹1,246 Cr Vs ₹1,330 Cr (QoQ)

Gross NPA Ratio At 1.7% Vs 1.7% (QoQ)

Net NPA Ratio At 0.5% Vs 0.6% (QoQ)

Commenting on the results and financial performance, Prashant Kumar, Managing Director & CEO at Yes Bank, said, “The Bank has started the financial year on a strong footing with RoA sustaining Q-o-Q at 0.5% despite seasonality of Q1 and NIL PSL shortfalls. While the Income Engines continue to fire with normalised Net Income Growth at 15% Y-o-Y, the Bank has been able to contain the Operating Cost growth at 8.0% Y-o-Y (exPSLCs). At the same time, the resolution momentum continues to be strong, leading to lower Net Credit Costs, which is also aiding in RoA expansion.

Yes Bank's loans grew 14.7% on year, while deposits rose 20.8%, as per a Reuters report.

Yes Bank announced its first quarter earnings reports for financial year FY24-25 (Q1FY25) today, on July 20.

• The bank's net profit is up by 46.4 per cent YoY to ₹502.43 crore in Q1FY25 compared to ₹343.52 crore in Q1FY24. 
• The lenders' standalone net interest income (NII) is up by 12.2 per cent YoY to ₹2,243.9 crore compared to ₹2,000 crore in the same period last year. 
• Yes Bank's gross NPA at 1.7 per cent in Q1FY25 compared to 1.7 per cent in Q4FY24; and net NPA is at 0.5 per cent compared to 0.6 per cent. 

Yes Bank has announced its Q1FY25 results today, reporting a standalone net profit of ₹502.43 crore for Q1FY25 (quarter ended June 30). This was up 46.4 per cent compared to the ₹342.52 crore profit after tax (PAT) reported by the bank in Q1FY24.

Further, Q1FY25 interest earned was reported at ₹7,719.15 crore, up 19 per cent from ₹6,443.22 crore in Q1FY24.

Yes Bank is set to declare its Q1FY25 earnings report today and experts have estimated for good numbers, driven by asset quality improvement in the first quarter. However, while positive outlook prevails, shares of the private bank fell at market close on July 19 (Friday) — just a day ahead of its results announcement.

According to stock market experts, the dip in Yes Bank's share price can be attributed to lower provisions and reduced operating expenses, which are expected to enhance the Bank's bottom line.

Q1 results today: At least nine companies, including Kotak Mahindra Bank, YES Bank, JK Cement, Poonawala Fincorp, RBL Bank, Newton Technologies, Can Fin Homes, ICRA, and Rossari Biotech, will declare their Q1FY25 earnings today. Check the details here.

Profit-booking ahead of earnings reports from prominent companies and the Union Budget 2024 announcement on July 23, dragged down benchmark indices the most in a month-and-a-half at market close on Friday, July 19. 

Fear gauge India Vix rose to the highest level in over a month.

The Nifty fell 1.09% to 24,530.9 while the Sensex pulled back from the 81,000 mark 0.9% to 80,604.65. Both indices hit fresh record highs – 24,854.8 and 81,587.76-at opening before pulling back and closing marginally off their lows.

Broader markets fell twice as much.

At least nine companies are set to announce their Q1FY25 earnings report today, on Saturday, July 20. These include Kotak Mahindra Bank, YES Bank, JK Cement, Poonawala Fincorp, RBL Bank, Newton Technologies, Can Fin Homes, ICRA, and Rossari Biotech.

Covering various sectors, the Q1FY25 earnings reports are expected to have a significant impact on stock movements in the BSE and NSE, and offer insights into the broader economic landscape.

Private lender Yes Bank will declare its first quarter results for the current financial year 2024-25. The market experts estimate good numbers are driven by the Bank's asset quality improvement in Q1 results today. However, despite the positive outlook for the Yes Bank results, shares of the private lender dipped on Friday, just one day ahead of its Q1 results announcement.

According to stock market experts, the dip in Yes Bank's share price can be attributed to lower provisions and reduced operating expenses, which are expected to enhance the Bank's bottom line.

Private lender Yes Bank is set to report its first quarter earnings reports for financial year FY24-25 (Q1FY25) today, on July 20. Market experts estimate good numbers are driven by the Bank's asset quality improvement, as per our earnings preview.