About the Company
Yes Bank Limited is India's fourth largest private sector bank, founded by Rana Kapoor and Ashok Kapur in 2004. Yes Bank has been recognized amongst the top and fastest growing banks in Indian Banking League, its business including Corporate Investment Banking, Treasury, Transaction Banking, and Sustainable practices through Responsible Banking.
India’s leading private sector lender has declared the results for the second quarter of fiscal year ending March, 2020.
- Net Interest Income: NII (difference between interest earned and interest expended) that serve as a major factor for future prospects landed to 218,311 lakhs fall by 4.18% QoQ while on YoY basis; there is a plunge of 9.73%.
- Net Profits: On QoQ basis, the bank has posted loss of 758.39% in net profits that are landed to (62.909) lakhs after tax while on YoY basis, there is a sharp plunge of 166.12%.
- Provisions and Contingencies: Bank's provisions and contingencies are fallen by 25.1% QoQ and 41.77% surge is witnessed in YoY.
- NPA (Gross): Gross NPA% is increased by 47.5% QoQ and 361.88% YoY that could make the investors cautious.
- NPA (Net): Net NPA ratios are increased by 49.48% QoQ and 471.86% YoY.
As per Lokesh Sethia, SEBI Registered Research Analyst, the bank has posted a net loss of 62,909 lakhs led by one time charge of Deferred tax asset that constituted 70,861 lakhs. However, the adjusted profits were 109 crores. Provisions and Contingencies have fallen on quarter basis while NPA's are still a concern for the counter. At a book value of 109 Rs./share and recent binding offer from global investors, we advise you to 'BUY' for a target of Rs. 150 in long term.