Yes Bank Q1 Results Live Updates
Yes Bank has reported its first quarter results for the financial year FY24-25 (Q1FY25) with impressive numbers. The CEO, Prashant Kumar, mentioned that the bank has started the year on a strong footing with a sustained RoA of 0.5% despite the seasonality of Q1 and no priority sector lending shortfalls. The bank also saw its highest quarterly profit since reconstruction in Q1, maintaining RoA at 0.5% for the second consecutive quarter.
Furthermore, Yes Bank’s loans grew by 14.7% year-on-year, while deposits rose by 20.8%. The bank’s net profit increased by 46.4% year-on-year to ₹502.43 crore in Q1FY25 compared to ₹343.52 crore in Q1FY24. Additionally, the bank’s gross NPA ratio stood at 1.7% in Q1FY25 compared to 1.7% in Q4FY24, and the net NPA ratio was at 0.5% compared to 0.6%.
Despite the positive outlook for the Q1 results, Yes Bank’s share price dipped ahead of the earnings report announcement. Experts attribute this dip to lower provisions and reduced operating expenses, which are expected to enhance the bank’s bottom line.
Overall, Yes Bank’s Q1 results have been promising, showcasing growth and stability in various financial metrics. Investors and analysts will be closely monitoring the bank’s performance in the coming quarters to see if it can sustain this positive momentum.