Yes Bank results surprise investors, share price soars 20% to hit circuit; check net profit, income

yes bank share price

Yes Bank share price today zoomed as much as 20 per cent to hit upper circuit at Rs 31.60 apiece on BSE in an otherwise weak trade on Thursday, after the private sector lender reported a net profit of Rs 2,629 crore for the quarter ended on March 31. Yes Bank, which is now recovering with the help of an RBI-guided bailout, had posted a loss of Rs 18,560 crore in the October-December quarter of FY20, and a net loss of Rs 1,506 crore in the January-March quarter of the previous year. Net Interest Income (NII) for the fourth quarter of FY20 stood at Rs 1,274 crore, a growth of 19.6 per cent sequentially on account of lower slippages compared to the corresponding period of the previous year.

Yes Bank share price opened at Rs 25.80 on Thursday and hit an intraday high and low of Rs 31.60 and Rs 25.25, respectively, in the session so far. Yes Bank has reported a gross non-performing assets (Gross NPAs) of Rs 32,878 crore and net non-performing assets (Net NPAs) of Rs 862,37 crore.

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Reserve Bank of India superseded the board of troubled private sector lender YES Bank and imposed a 30-day moratorium on it, following which, shares of the lender hit a record low of Rs 5.55, plunging 85 per cent. However, Yes Bank resumed all its banking services for customers from March 18, 2020.

During the quarter ended March 31, 2020, under Reconstruction Scheme, 2020, cash strapped Yes Bank raised equity capital of Rs 10,000 crores from State Bank of India (SBI) and seven private financial institutions which include HDFC Ltd, ICICI Bank, Kotak Mahindra Bank, Bandhan Bank, Federal Bank and IDFC First Bank. RBI placed Yes Bank under moratorium and superseded the board with former SBI official Prashant Kumar.

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