YES Bank Q1 Profit: ₹502.43 crore
Yes Bank released its Q1FY25 results on June 30. The company made a standalone net profit of ₹502.43 crore, a 46.4% increase from the ₹342.52 crore profit after tax (PAT) it made in Q1FY24. The bank reported interest earnings of ₹7,719.15 crore in the first quarter of FY25, a 19% increase from ₹6,443.22 crore in the previous year. In addition, the standalone net interest income (NII) increased by 12.2% year-over-year to ₹2,243.9 crore from ₹2,000 crore in Q1FY24. Additionally, the NII increased by 4.2% quarter-over-quarter.
Yes Bank’s asset quality remained stable, with gross non-performing assets (NPA) unchanged from Q4FY24 at 1.7% in Q1FY25. From 0.6% in the previous quarter, the net NPA increased slightly to 0.5%. “The Bank has started the financial year on a strong footing with RoA sustaining Q-to-Q at 0.5% despite the seasonality of Q1 and NIL PSL shortfalls,” stated Prashant Kumar, Managing Director and CEO of Yes Bank.
The Bank has been able to contain the growth in operating costs at 8.0% Y-o-Y (exPSLCs) while the income engines continue to fire with normalized net income growth of 15% year over year. Meanwhile, the resolution momentum is still strong, resulting in lower net credit costs and supporting RoA expansion. He also talked about important things that happened in the quarter, like private equity investors exercising their warrants and Moody’s and ICRA improving their outlooks on the bank’s credit rating, both of which boost confidence in the bank’s growth and profitability.
Source: MINT
