Yes Bank rose 1.49% to Rs 648 at 12:17 IST on BSE after net profit surged 30.01% to Rs 482.54 crore on 13.25% growth in total income to Rs 3337.97 crore in Q2 September 2014 over Q2 September 2013.
The Q2 result was announced during market hours today, 30 October 2014.
Meanwhile, the S&P BSE Sensex was up 167.79 points or 0.62% at 27,265.96.
On BSE, so far 3.29 lakh shares were traded in the counter as against average daily volume of 2.60 lakh shares in the past one quarter.
The stock hit a high of Rs 655.10 so far during the day, which is also its record high for the counter. The stock hit a low of Rs 635.70 so far during the day. The stock had hit a 52-week low of Rs 292.10 on 4 February 2014.
The stock had outperformed the market over the past one month till 29 October 2014, jumping 12.3% compared Sensex's 1.88% rise. The scrip had also outperformed the market in past one quarter, surging 19.05% as against Sensex's 4.26% rise.
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The large-cap bank has equity capital of Rs 416.62 crore. Face value per share is Rs 10.
Yes Bank's net interest income (NII) rose 27.4% to Rs 856.40 crore in Q2 September 2014 over Q2 September 2013. Non interest income rose 13.3% to Rs 505.60 crore in Q2 September 2014 over Q2 September 2013.
Gross non performing advances as a proportion of gross advances was at 0.36%, while net non performing advances as a proportion of net advances was at 0.09% as at 30 September 2014. Bank's specific loan loss provision coverage was at 75.8% as at 30 September 2014. Total restructured advances (excluding NPAs) stand at Rs 116.30 crore as at 30 September 2014. This represents 0.19% of the gross advances, down from 0.26% (Rs 125.5 crore) as at 30 September 2013, Yes Bank said.
As per Basel III, Tier I capital stood at 12.2% and total CRAR stood at 17.4% as at 30 September 2014.
Commenting on the results and financial performance, Mr. Rana Kapoor, Managing Director & CEO, Yes Bank said that the bank has witnessed healthy growth in net profit of 30%, on the back of strong NII, and continued focus on revenue and business diversity leading to a stable increase in non-interest income. The bank has continued to deliver steady performance in Q2 September 2014 maintaining healthy asset quality with meaningful expansion in NIMs, he added.
Mr. Kapoor further added that, the bank continues to invest in retail branches and retail sales force, reflecting in CASA ratio improvement to 22.5% as on 30 September 2014. The Bank has also established a robust SME & Retail Assets Banking platform which are becoming important growth drivers, he added. The business metrics and performance have registered consistent improvement which is also reflected in the recent ratings upgrade received by the Bank from ICRA & CARE, Mr. Kapoor said.
Meanwhile, Ms. Radha Singh took charge as the non-executive part-time Chairperson of the board pursuant to the approval granted by the Reserve Bank of India.
Yes Bank is one of the leading private sector banks in India.
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