Yes Bank Q3 net up 21% to Rs 416 cr; scrip gains 2%
16 Jan 2014 5:51 AM IST
It had reported net profit of Rs 342.3 crore during the same period of the 2012-13 fiscal, Yes Bank said in a statement.
The Q3, 2013-14, net interest income rose by 13.3 per cent to Rs 665.4 crore as compared to Rs 584.3 crore in the same quarter of previous fiscal.
The total Q3 income of the bank increased to Rs 2,902 crore, from Rs 2,446.83 crore in the year-ago period.
However, the net interest margin (NIM), a key gauge of profitability, of the bank declined to 2.9 per cent from 3 per cent in the third quarter of of corresponding period previous year.
The bank has recently received approval from the UAE central bank to set up a representative office in Abu Dhabi, UAE which will be the bank's maiden international beginning. Shares of Yes Bank on Wednesday closed nearly 2 per cent up after the company reported an increase in net profit. The bank’s scrip ended at Rs 353.05, up 1.95 per cent, on the Bombay Stock Exchange (BSE). During intra-day trade, it had gained 2.8 per cent to Rs 356.
At the National Stock Exchange (NSE), the bank’s stock rose 1.92 per cent to close at Rs 353.25.
The Q3, 2013-14, net interest income rose by 13.3 per cent to Rs 665.4 crore as compared to Rs 584.3 crore in the same quarter of previous fiscal.
The total Q3 income of the bank increased to Rs 2,902 crore, from Rs 2,446.83 crore in the year-ago period.
However, the net interest margin (NIM), a key gauge of profitability, of the bank declined to 2.9 per cent from 3 per cent in the third quarter of of corresponding period previous year.
The bank has recently received approval from the UAE central bank to set up a representative office in Abu Dhabi, UAE which will be the bank's maiden international beginning. Shares of Yes Bank on Wednesday closed nearly 2 per cent up after the company reported an increase in net profit. The bank’s scrip ended at Rs 353.05, up 1.95 per cent, on the Bombay Stock Exchange (BSE). During intra-day trade, it had gained 2.8 per cent to Rs 356.
At the National Stock Exchange (NSE), the bank’s stock rose 1.92 per cent to close at Rs 353.25.
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