Yes Bank Q3 PAT up 21.4% at Rs 415.6 crore; stock gains

MUMBAI: Yes Bank reported a better-than-expected net profit for the quarter ended December 2013 at 415.6 crore, up 21.4 per cent.

The figure is against that of Rs 342.3 crore in the corresponding quarter of the last fiscal year. ET Now poll expected the net profit to be at Rs 388 crore.

Net interest income, however, was below Street estimates at Rs 665.4 crore, up 13.8 per cent, as against Rs 584.3 crore in the corresponding quarter of the last fiscal year. ET Now poll estimated it to be at Rs 687 crore.

Gross NPAs for the December-ended quarter stood increased to 0.39 per cent versus 0.28 per cent quarter on quarter (Q-o-Q) while net NPAs increased to 0.08 per cent as against 0.04 per cent QoQ.

Net interest margins remain unchanged at 2.9 per cent Q-o-Q.

The bank reported 20.7 per cent increase in deposits at Rs 68,060 crore year on year (YoY). Advances rose to Rs 50,292 crore, up 14.7 per cent YoY.

At 01:10 p.m.; the stock was at Rs 351, up 1.40 per cent, on the BSE. It touched a high of Rs 356 and a low of Rs 342 in trade today.