Yes Bank announced its Q4FY23 results on Saturday, reported a decline in net profit by ₹367.46 crore 202.43 crore in Q4FY23, a decline of 45 per cent on a year-on-year (YoY) basis. However, on a quarter-on-quarter (QoQ) basis, Yes Bank reported a growth of around 293 per cent in net profit as against Q3FY23 51.52 crores.
On the net income front, Yes Bank reported improvement as the private lender reported net income 7,298.51 crore in the fourth quarter of the recently concluded financial year. 5,829.22 crore in the corresponding period of the previous financial year. In FY23, Yes Bank reported 19.46 per cent growth in total income as its Q4FY23 total income 26,624.08 crore against a total income of Rs. 22,285.98 crore in FY22.
Yes Bank also reported growth in standalone assets in FY23. The total assets of Yes Bank in the financial year 2022-23 was 3,54,786.13 crore, about 11.49 per cent more than its total assets 3,18,220.23 crore in FY22.
Yes Bank Results for Q3 FY23
In Q3 FY2023 results, Yes Bank posted a profit (profit after tax) of Rs. 51.52 cr in Q3FY23 as against 266.43 crore in the same quarter last year, registering a decline of 80.66%. Also, dropped 66.28% compared to PAT 152.82 crore in the previous quarter. One of the key highlights of Q3 is that Yes Bank’s gross NPAs declined to its lowest level since Q3 FY19, owing to the transfer of stressed assets to JC Flowers, an asset reconstruction company.
Shares of Yes Bank fell nearly 1.8 per cent on Friday as the stock got liquidated 16.20 per share level, 0.30 per share down from its Thursday close 16.50 on NSE at Rs.
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