A private sector lender, YES Bank, said on Saturday that its net profit for the second quarter of FY25 had increased by 145.6%. Up from Rs 225.21 crore in the second quarter of FY24, the current fiscal year’s second quarter had a profit of Rs 553 crore. Net interest income climbed 14.3% vs the previous year to Rs 2,200 crore. Operating profit climbed 21.7% year over year, growing 10.2% on a Q-o-Q basis from Rs 885 crore to Rs 975 crore. The nett interest margin stayed at 2.4% each quarter throughout.
Yes Bank NPA
The gross non-performing asset (NPA) ratio of YES Bank was 1.6% on September 30, 2024, as opposed to 1.7% on June 30, 2024. On a Q-o-Q basis, the net NPA ratio remained steady at 0.5% during the most recent quarter. Net advances increased 2.4% on a quarterly basis from Rs 2,29,565 crore to Rs 2,35,117 crore, up 12.4% year over year from Rs 209106 crore. From Rs 2,34,360 crore in Q2 of the previous fiscal year to Rs 2,77,214 crore in Q2, deposits with the lender increased 18.3%. Deposits increased 4.6% from the June 2024 quarter’s Rs 2,65,072 crore.
Yes Bank share price target
Chandrakant Maske, AVP of technical and derivative research at Spark Capital, discussed the prospects for Yes Bank’s share price. He stated that the company’s shares have a solid base around ₹16.90 per share. Although there might be some selling pressure on the stock over the first few sessions, a trend reversal in Yes Bank shares might be anticipated if the share price is able to hold above this level. Those who own Yes Bank shares are therefore encouraged to hold the scrip with a stringent stop loss of ₹16.90 per share. The stock might soon hit ₹23 and ₹24.80 each.
Broker Recommendation
Yes Bank’s net interest income (NII) has increased by 23% year over year to Rs 2,359 crore, according to brokerage JM Financial. This might represent a 5% increase on a sequential basis. The estimated net profit for the reporting quarter is Rs 484 crore, which might increase by 115% year over year while decreasing by 3.6%.
