Yes Bank shares rise 5% as lender posts 63% rise in Q4 net profit on lower provisions

Yes Bank shares rise 5% as lender posts 63% rise in Q4 net profit on lower provisions

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Shares of Yes Bank rose 5% on April 21 as the Mumbai-based private lender reported 63% increase in net profit in March quarter on lower provisions.

The lender's standalone net profit rose to Rs 738 crore for the financial year fourth quarter from Rs 452 crore in the same period a year earlier.

At 9:45 am on April 21, Yes Bank's shares on BSE were trading 4.4% higher at Rs 18.9 apiece. The 52-week high of the stock is Rs 28.55 and 52-week low is Rs 16. The market capitalisation of the stock is Rs 59,200 crore.

Yes Bank's provisions and contingencies, or funds kept aside for potential bad loans, fell 32.5% on-year to Rs 318 crore.

Its gross non-performing asset ratio, a key gauge of asset quality, was at 1.60% at end of March, unchanged from the end of the previous three months.

Net interest income, the difference between the interest earned on loans and paid to depositors, rose 5.7% to Rs 2,276 crore

Its other income, including fees, commissions and interest earned traditional interest-based activities, rose 11% to Rs 1,567 crore.

Its loans grew 8.1% on year, while deposits rose 6.8%.

Net interest margin, a key profitability measure, was 2.50%, up from 2.40% a year earlier and in the previous three months.