Yes Bank‘s share price continued to slump for the fourth straight session as the crisis-hit bank reported its Q4 earnings.
What Happened: The bank’s operating revenue for the quarter ended March stood at ₹6,216.2 crore up 5.86% sequentially and 25% year-over-year. Net Interest Income – Net interest income is the difference between the income a bank makes from its lending activities and the interest it pays to depositors – for the period stood at ₹2,105 crore up 15.7% YoY. Net interest margin for the quarter stood at 2.8%.
However, the company’s profits took a major hit in Q4. The troubled bank reported net profits of ₹202 crore down around 45% from the ₹503.2 crore profits it booked in the corresponding quarter. The profits missed consensus estimates.
Total disbursement for the quarter stood at ₹26,317 crore up 325 YoY. Deposits also grew 10.3% YoY to ₹2,17,502 crore. The private lender added 83 new branches in FY23.
Price Action: Yes Bank’s share price was down 2.16% to trade at ₹15.85% shortly after the markets opened on Monday.
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