Yes Bank shares gain nearly 3% on rise in Q1 net profit

Shares of Yes Bank rose nearly 3 percent Wednesday after the company reported 27.7 percent rise in net profit during the first quarter ended June, 2015.

Mumbai: Shares of Yes Bank rose nearly 3 percent Wednesday after the company reported 27.7 percent rise in net profit during the first quarter ended June, 2015.

The company's scrip ended the day with a gain of 2.65 percent at Rs 815.70 on the BSE. In intra-day, it climbed 3.19 per cent to Rs 820.

At the NSE, the stock went up by 2.66 percent to Rs 816.10 at close of trade.

The company's market capitalisation rose by Rs 881 crore to Rs 34,105 crore.

"Yes Bank stock was up as the bank met market expectations," said Hiren Dhakan, Associate Fund Manager, Bonanza Portfolio Ltd.

Private sector lender Yes Bank today reported 27.7 percent rise in net profit to Rs 551.20 crore during the first quarter ended June 30, 2015-16, on higher net interest income.

Bank's net profit during the April-June quarter of the previous fiscal was Rs 431.54 crore.

Its net interest margin (NIM), the key gauge of profitability, expanded to 3.3 percent in the first quarter of the current fiscal, from 3 percent in the year-ago period, Yes Bank said in a filing to the BSE.

Net interest income of the bank rose by 42.2 percent, year-on-year, to Rs 1,059.80 crore, it said.

However, the bank's asset quality slipped during the period under review, with gross Non-Performing Assets (NPAs) rising to 0.46 percent of the gross advances as against 0.33 percent a year ago.

By continuing to use the site, you agree to the use of cookies. You can find out more by clicking this link

Close