Yes Bank Q2FY18 standalone net profit rises 25% yoy to Rs 1,002 crore: In-line with Estimates

India Infoline Research Team | October 31, 2017 15:58 IST

India's fifth largest private sector Bank

Yes Bank Ltd Q2FY18

Standalone Results Q2FY18: (Rs. in crore)

Q2FY18 YoY (%)
NII 1,885 33.5
NPA (%) 1.82 99
Provisions 447 176
Net Profit (adjusted) 1,002 25
***NPA change is bps
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Reco. Price

362

Last updated on

23-Oct-2017

Yes Bank reported Q2FY18 earnings in line with street estimates. The NII for the quarter was 1.5% higher than the street estimates of Rs1855 crore. While, net profit for the quarter was slightly below the estimates of Rs.1002 crore.

NII for the quarter rose by 33.5% yoy to Rs.1885 crore in Q2FY18 vs Rs.1412 crore in previous year corresponding quarter. This was largely due to 18.1% yoy to Rs.4800 crore in Q2FY18.NIM’s for the quarter showed improvement at 3.7% vs 3.4% in Q2FY17.

Asset quality of the bank deteriorated drastically as GNPA’s for the quarter rose by 197% yoy to Rs.2720 crore in Q2FY18 vs Rs.916 crore in previous year corresponding quarter. In percentage to total advances GNPA’s advanced by 99 bps to 1.82% in Q2FY18 vs 0.83% in Q2FY17. Also, NNPA for the quarter rose by 75 bps to 1.04% vs 0.29% in Q2FY17.

Further Bank also reported divergence in GNPA’s & NNPA’s to Rs.6355 crore & 4819 crore for FY17.

Provisions for the quarter rose by 176% yoy to Rs.447 crore in Q2FY18 vs Rs.161 crore in previous year corresponding quarter.Also, provision coverage ratio for the bank looks low at 43.3% in Q2FY18 vs 64.8% in Q2FY17.

However, net profit for the quarter rose by 25% yoy to Rs.1002 crore in Q2FY18 vs Rs.801 crore in Q2FY17. This was driven by higher NII, operating profit and other income.

Further, Advances for the quarter rose by 35% yoy to Rs.148675 crore in Q2FY18 vs Rs.110216 crore in Q2FY17. While deposits for the quarter rose by 11.3% yoy to Rs.157989 crore in Q2FY18.

Capital adequacy looks better at CAR Basel III at 17% in Q2FY18 vs 14% in Q2FY17.


Technical View:

Yes Bank Ltd ended at Rs. 331.70, up by 4.05 points or 1.24% from its previous closing of Rs. 327.65 on the BSE.
The scrip opened at Rs. 330 and touched a high and low of Rs. 339 and Rs. 318.55 respectively. A total of 2,83,72,864(NSE+BSE) shares were traded on the counter. The stock traded above its 50 DMA.

BSE 316.05 12.10 (3.98%)
NSE 315.90 12 (3.95%)

***Note: This is a NSE Chart

 

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