Yes Bank Q2 results: On account of rise in provisioning from ₹377 crore to ₹583 crore in second quarter of the current financial year, Yes Bank has reported 32.20 per cent dip in net profit on Year-on-Year or YoY-basis, despite logging 31.7 per cent rise in net interest income (NIM).
In Q2FY23 results, Yes Bank reported dip in net profit from ₹311 crore in Q1FY23 to ₹153 crore in Q2FY23, logging 50.80 per cent dip on quarter-on-quarter (QoQ) basis. However, on YoY-basis, Yes Bank's net profit has nosedived from ₹225 crore in Q2FY22 to ₹153 crore in recently ended September 2022 quarter, reporting YoY dip of 32.20 per cent.
The private lender has claimed that the dip in net profit of the bank is due to the rise in provisioning. As per the unaudited results of Yes Bank available on BSE website, provisioning for Q2FY23 stands at ₹583 crore against ₹377 crore in Q2FY22, near 54.40 per cent higher on YoY basis. However, Yes Bank's provisioning in Q1FY22 stood at ₹175 crore, which means the private lender has raised its provisioning by 233.60 per cent on QoQ-basis.
In Q2FY23, Yes Bank has reported net income at ₹2,911 crore that stood at ₹2,632 crore in Q1Fy23 and at ₹2,290 crore in Q2FY22. This means private bank has managed to register 10.6 per cent QoQ rise in its net income during July to September 2022 quarter. On YoY basis, the private lender has logged 27.10 per cent in net income.
Yes Bank's net interest income (NII) in recently ended September 2022 quarter stands at ₹1,991 crore that stood at ₹1,850 crore in Q1FY23 and at ₹1,512 crore in Q2FY22. So, the private lender has logged 7.60 per cent QoQ rise and 31.70 per cent YoY rise in NII during July to September 2022 period.
The private lender has reported improvement in its assets as well. In Q2FY22, Yes Bank's total asset stands at ₹3,34,496 crore that stood at ₹3,18,475 crore in Q1FY23 whereas it stood at ₹2,88,523 crore in Q2FY22. So, Yes Bank has reported improvement in its asset by 5 per cent on QoQ-basis and 15.90 per cent on YoY-basis.
In second quarter of ongoing financial year, yes Bank's NIM (Net Interest Margin) stands at 2.60 per cent that stood at 2.40 per cent in Q1FY23 and at 2.20 per cent in Q2FY22.
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