YES Bank shares gained over 3 per cent on Thursday after the private sector lender on Wednesday reported a 27.43 per cent rise in its standalone net profit at Rs 702.1 crore for the fourth quarter ended March 2016. The bank reported net profit of Rs 551 crore in the same quarter a year ago.
The share price of YES Bank closed 3.21 per cent up at 944.95. The scrip opened the day at Rs 917.50 and touched a high and low of Rs 951.40 and Rs 915, respectively, in trade. Sensex settled 461.02 points, or 1.77 per cent, down at 25,603.10.
Total income of YES Bank increased by 17.73 per cent year-on-year (yoy) to Rs 4331.10 crore.
Yes bank’s total provisioning against bad loans in the quarter under review climbed 47.6 per cent to Rs 186.5 crore compared with Rs 126.4 crore in the same quarter last year. On the asset quality front, the bank’s net non-performing assets (NPA) increased to 0.29 per cent of total advances in the March quarter, from 0.12 per cent a year ago.
Gross NPAs jumped to 0.76 per cent in Jan-March period from 0.41 per cent a year ago.
KR Choksey Shares & Securities in a research note said, “Barring a tad setback on asset quality, the Q4FY16 earnings stood robust for YES Bank defying challenging operating environment.”