YES Bank, a private sector lender, announced a 145.6% increase in net profit for the second quarter of FY25 on Saturday. The second quarter of the current fiscal year had a profit of Rs 553 crore, up from Rs 225.21 crore in the second quarter of FY24. At Rs 2,200 crore, net interest income increased 14.3% year over year.
Operating profit increased 10.2% on a Q-o-Q basis from Rs 885 crore to Rs 975 crore, up 21.7% year-over-year.
Every quarter, the net interest margin remained steady at 2.4%.
On September 30, 2024, YES Bank’s gross non-performing asset ratio was 1.6%, while on June 30, 2024, it was 1.7%. Q-o-Q, the net non-performing asset ratio remained steady at 0.5% during the most recent quarter. Net advances increased 2.4% from Rs 2,29,565 crore every quarter and 12.4% from Rs 209106 crore to Rs 2,35,117 crore on an annual basis.
In Q2, deposits with the lender increased 18.3% to Rs 2,77,214 crore, up from Rs 2,34,360 crore in the same period last fiscal year. From Rs 2,65,072 crore in the June 2024 quarter, deposits increased 4.6%.
The debt-to-equity ratio decreased to 0.98 in the most recent quarter from 1.01% in the June 2024 and September 2023 quarters.
EPS increased from Rs 0.8 in the September 2023 quarter to Rs 0.18 in the second quarter. EPS for the June 2024 quarter was Rs 0.16.
“The Q2FY25 performance has been encouraging, especially when viewed in the context of industry headwinds,” stated Prashant Kumar, YES BANK’s managing director and CEO. On the strength of CA growth of 26% Y-o-Y & 11% Q-o-Q and SA growth of 30% Y-o-Y & 7% Q-o-Q, deposit momentum has been sustained with 18% Y-o-Y growth and a robust CASA ratio expansion (currently at 32%) on both Y-o-Y and Q-o-Q basis. At 2.2% of Advances, the slippage ratio is still range-bound within the forecast range. Additional metrics for asset quality, including PCR, O/S, and GNPA ratio All of the restructured loans have improved every quarter. With exceptional growth in the SME and Mid Corporate segments, growth in the Corporate segment resumed, and growth in the Retail segment calibrated for profitability improvement, the Bank is still meeting the stated strategic objectives. Additionally, the bank maintains NIL PSL deficits.
