Q2 FY25 Earnings: Private sector lender YES Bank on Saturday reported a 145.6% rise in net profit for Q2 FY25. Profit came at Rs 553 crore in the second quarter of the current fiscal compared to Rs 225.21 crore in Q2 FY24. Net interest income climbed 14.3% YOY to Rs 2,200 crore.
Operating profit rose 21.7% Y-o-Y to Rs 975 crore and gained 10.2% on a Q-o-Q basis from Rs 885 crore.
Net interest margin was stable at 2.4% on a Q-o-Q basis.
YES Bank's gross NPA ratio was 1.6% on September 30, 2024 compared to 1.7% on June 30, 2024. The net NPA ratio was stable at 0.5% in the last quarter on a Q-o-Q basis. Net advances grew 12.4% year-on-year to Rs 2,35,117 crore from Rs 209106 crore and 2.4% on quarter on quarter basis from Rs 2,29,565 crore.
Deposits with the lender surged 18.3% to Rs 2,77,214 crore in Q2 against Rs 2,34,360 crore in Q2 of the previous fiscal. Deposits climbed 4.6% from Rs 2,65,072 crore from June 2024 quarter.
Debt to equity ratio improved to 0.98 in the last quarter against 1.01% in June 2024 quarter and September 2023 quarter.
Earnings per share (EPS) rose to Rs 0.18 in Q2 against Rs 0.8 in the September 2023 quarter. EPS stood at Rs 0.16 in the June 2024 quarter.
Prashant Kumar, Managing Director & CEO, YES BANK said, “Q2FY25 performance has been encouraging, esp. if seen in the context of Industry headwinds. Deposit momentum has been maintained with 18% Y-o-Y growth, along with healthy CASA ratio (now at 32%) expansion on both Y-o-Y & Q-o-Q basis, on the back of CA growth at 26% Y-o-Y & 11% Q-o-Q and SA growth at 30% Y-o-Y & 7% Q-o-Q. At same time, the slippage ratio (at 2.2% of Advances) remains range-bound within the guidance range. Other Asset Quality parameters such as GNPA ratio, PCR and O/S Restructured loans have all improved on Q-o-Q basis. The Bank continues to deliver as per the stated strategic objectives, with superior growth in SME and Mid Corporate segments, growth resumption in the Corporate segment and calibration of growth in Retail segment, aimed at profitability improvement. Bank also continues to maintain NIL PSL shortfalls."