Yes Bank Announces Financial Results for the Q4FY24

by Psu Connect
Date: 27-04-24

Yes Bank has announced its final quarter results where Net Profit for Q4FY24 is at Rs 452 Crore up by 123.2% Y-o-Y and 95.2% Q-o-Q, for combined FY24 Net Profit is at Rs 1,251 Crore up by 74.4% Y-o-Y.

Yes Bank Announces Financial Results for the Q4FY24

Yes Bank has announced its final quarter results where Net Profit for Q4FY24 is at Rs 452 Crore up by 123.2% Y-o-Y and 95.2% Q-o-Q, for combined FY24 Net Profit is at Rs 1,251 Crore up by 74.4% Y-o-Y.

Non-interest income shows strong momentum across diverse and granular fee streams with Q4FY24 up by 56.3% Y-o-Y and 31.3% Q-o-Q. For FY24 Non-Interest Income up 38.8% Y-o-Y.

NII stood at Rs 2,153 Crs for Q4FY24 up 2.3% Y-o-Y & 6.8% Q-o-Q and for FY24 NII is at Rs 8,095 Crore up 2.2% Y-o-Y. The company’s Net Profit for Q4FY24 is at Rs 452 Crore up 123.2% Y-o-Y and 95.2% Q-o-Q while for FY24 Net Profit is at Rs 1,251 Crore up 74.4% Y-o-Y.

As per Mr. Prashant Kumar, Managing Director & CEO, YES BANK, “This quarter demonstrates a significant step in the RoA expansion journey, with Q4FY24 RoA expanding to 0.5%. This is despite the one-off gains from tax refunds, SR recoveries, and ARC Sale, being prudently utilized for strengthening the Asset Quality metrics- for instance, the NNPA + Net Carrying value of SRs have more than halved over the year to 1.1% from 2.4% in FY23.

Operating Costs are at Rs 2,819 Crore up 27.0% Y-o-Y. PSLC costs incurred during the quarter aggregated to Rs 254 Crs v/s. NIL in Q4FY23. Operating Profit for Q4FY24 stands at Rs 902 Cr, up 1.5% Y-o-Y and 4.4% Q-o-Q. Net Advances is at Rs 2,27,799 Cr, registering a growth of 12.1% Y-o-Y and 4.7% Q-o-Q.