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Private sector lender Yes Bank‘s third quarter net profit jumped 21.4 percent, higher-than-expected to Rs 415.6 crore supported by non interest income, but asset quality weakened.
According to poll, net interest income may grow 16 percent year-on-year to Rs 679 crore and profit after tax may jump 10 percent to Rs 376 crore in the quarter ended December 2013.
StarMine's SmartEstimates, which places greater emphasis on forecasts by top-rated analysts, expects Yes Bank to report a profit of Rs 396 crore for the quarter, compared with a consensus mean estimate of Rs 390 crore.
According to Motilal Oswal, Net-interest income of YES Bank is expected to increase by 0.2 percent Q-o-Q (up 15.2 percent Y-o-Y) to Rs 673.3 crore.
According to ICICIdirect.com, net-interest income of YES Bank is expected to increase by 3.2 percent Q-o-Q (up 18.6 percent Y-o-Y) to Rs 693.3 crore.
Top pecking order in the private banking space for Religare Capital Markets is HDFC Bank, followed by Yes Bank, IndusInd Bank and then ICICI Bank over Axis Bank, says Siddharth Teli.
A very important part of the result is the bank‘s non-performing asset (NPA) that grew at 0.28 percent. While asset quality continues to be a concern, the headline number for the same is quite modest says Rajat Monga, chief financial officer, YES Bank.
YES Bank made a one off provision on bond losses of Rs 112.7 crore for this quarter despite the fact that it could have apportioned this loss over the remaining two quarters of this fiscal year.
Vaibhav Agarwal, Angel Broking told CNBC-TV18 that the bank has performed well and ensured that its balance sheet remains qualitatively quite strong.
Analysts expect pressure in margin sequentially because Reserve Bank of India increased short term rates during September quarter to curb rupee depreciation. More than 60 percent of bank's total funding is via wholesale funding.
Analysts expect 10-15 basis points Q-o-Q pressure on net interest margin, but that could be negated due to the 25 basis points hike taken in benchmark prime lending rate (BPLR) on August 1 by the bank.
According to Motilal Oswal, YES Bank may report a 21 percent degrowth quarter-on-quarter (growth of 3.4 percent year-on-year) in net profit at Rs 316.5 crore.
According to KR Choksey, YES Bank to report a 2 percent degrowth quarter-on-quarter (growth of 28 percent year-on-year) in net profit at Rs 393 crore.
Siddharth Teli of Religare Capital Markets says the numers posted by IndusInd Bank were fairly good both on asset quality front as well as margins.
Its first quarter (April-June) net profit rose to a forecast beating 38 percent year-on-year to Rs 401 crore, aided by robust growth in net interest income (NII) and other income.
Dolat Capital expects Yes Bank to report a 5 percent growth quarter-on-quarter (growth of 31 percent year-on-year) in net profit at Rs 379 crore.
Motilal Oswal expects Yes Bank to report a 6.7 percent growth quarter-on-quarter (growth of 33.1 percent year-on-year) in net profit at Rs 386 crore.
KR Choksey expects Yes Bank to report a 8 percent growth quarter-on-quarter (growth of 35 percent year-on-year) in net profit at Rs 391 crore.
Private sector lender YES Bank's first quarter (April-June) net profit is likely to grow 32 percent year-on-year to Rs 382 crore. Net interest income (NII) or the difference between interest earned and paid out, may increase by 39 percent y-o-y to Rs 658 crore from Rs 472 crore a year ago, according to an average poll estimate by CNBC TV18.
Private sector lender Yes Bank's fourth quarter net profit rose 33 percent year-on-year, beating estimates to about Rs 360 crore.
Private sector lender Yes Bank is likely to grow its net profit by 29% year-on-year to Rs 349 crore in the fourth quarter (January - March). Net interest income or the difference between interest earned and paid out, would rise 39% y-o-y to Rs 622 crore, according to a poll estimate.
Motilal Oswal has come with its March`13 quarterly earning estimates for financial sector. The research firm expects reforms and monetary easing to continue, thereby growth is expected to revive gradually.
Angel Broking has come with its March`13 quarterly earning estimates for banking sector. The research firm expects private banks to report healthy earnings growth of 23.0 percent yoy, however, the PSU banks with expected earnings decline of 13.1 percent yoy, would drag the overall earnings performance (de-growth of 3.2 percent yoy).
Boosted by higher interest income and fee income, Yes Bank ‘s profit in the third quarter of FY13 grew 35% year-on-year to Rs 342 crore. The private sector lender is confident to maintain improvement in both NIM and CASA.
Private sector lender Yes Bank is set to declare its results for the third quarter of current financial year 2012-13 on Wednesday. Analysts on an average expect profit after tax to grow by 29 percent year-on-year to Rs 327 crore in the quarter.