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YES Bank Ltd Q1FY22 consolidated at Rs. 203.76 crores

Posted On: 2021-07-23 12:19:01 (Time Zone: UTC)


YES BANK LTD. has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY 2021-22) - QoQ Comparison

The company has reported total income of Rs.5610.71 crores during the period ended June 30, 2021 as compared to Rs.4834.92 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.203.76 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.(3790.92) crores for the period ended March 31, 2021.

The company has reported EPS of Rs.0.08 for the period ended June 30, 2021 as compared to Rs.(1.51) for the period ended March 31, 2021.

FinancialsQ1 FY2021-22Q4 FY20-21% Change
Total Income₹ 5610.71 crs₹ 4834.92 crsUp Tick 16.05%
Net Profit₹ 203.76 crs₹ (3790.92) crsUp Tick 105.37%
EPS₹ 0.08₹ (1.51)Up Tick 105.3%

Financial Results (Q1 FY 2021-22) - YoY Comparison

The company has reported total income of Rs.5610.71 crores during the period ended June 30, 2021 as compared to Rs.6122.62 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.203.76 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.34.05 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.0.08 for the period ended June 30, 2021 as compared to Rs.0.03 for the period ended June 30, 2020.

FinancialsQ1 FY2021-22Q1 FY2020-21% Change
Total Income₹ 5610.71 crs₹ 6122.62 crsDown Tick -8.36%
Net Profit₹ 203.76 crs₹ 34.05 crsUp Tick 498.41%
EPS₹ 0.08₹ 0.03Up Tick 166.67%

Key updates of Q1FY22

- Net Profit at INR 207 Cr - Highest since December 2018.

- Corporate recoveries / resolutions at INR 1,643 Cr far outpace slippages of INR 1,258 Cr and almost entirely offset total slippages. Provisions for Q1FY22 at INR 644 Cr lower by 87.7% Q-o-Q - Lowest since December 2018

- CASA Ratio at 27.4% up ~130 bps Q-o-Q- Highest since December 2019. ~1.5 Lac CASA accounts opened in Q1FY22

- Retail Advances cross INR 50,000 Cr mark; Retail: Corporate Mix at 53:47 (51:49 last quarter).

- New Business Generation continues for Q1FY22: Retail Disbursements at INR 5,006 Cr, SME Disbursements1 at INR 3,242 Cr, Wholesale Banking Disbursements at INR 3,625 Cr

- Sustained momentum in recoveries with INR 602 Cr of Cash Recoveries in Q1FY22

- CET I ratio2 improves by ~40 bps Q-o-Q to 11.6%; Total CRAR at 17.9%

- Continued Leadership in Technology: UPI: #1 in P2M transactions, ~46% vol. market share, IMPS: #1 Remitter Bank

- ~ 80% employees vaccinated during free vaccination drives across the country. Implemented Work from Anywhere which provides employees improved flexibility and support

Financial Highlights

- NII for Q1FY22 at INR 1,402 Cr. NIMs at 2.1%
- Non-Interest income at INR 1,056 Cr up 29.5% Q-o-Q
- Operating expenses for Q1FY22 at INR 1,538 Cr were lower by 4.9% Q-o-Q
- Operating Profit at INR 920 Cr up ~4x Q-o-Q
- Net Advances at INR 163,654 Cr; Total Deposits at INR 163,295 Cr; CD ratio at ~100.2% from 102.4% in Q4FY21
- Liquidity Coverage Ratio (daily average during the quarter) remains healthy at 131.8% v/s. 113.9% last quarter

Asset quality parameters:

- GNPA of 15.60% (GNPA lower by ~INR 100 Cr Q-o-Q)
- NNPA of 5.78% (NNPA lower by ~INR 350 Cr Q-o-Q)
- NPA Provision Coverage Ratio at 79.3%

Shares of YES BANK LTD. was last trading in BSE at Rs. 13.07 as compared to the previous close of Rs. 13.02. The total number of shares traded during the day was 17349567 in over 31275 trades.

The stock hit an intraday high of Rs. 13.21 and intraday low of 13.01. The net turnover during the day was Rs. 226981255.


Source: Equity Bulls

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