Yes Bank Q3 result: Net profit at Yes Bank is at ₹231 crore, and the NII is up 2.3 percent at ₹2,016.8 crore, the company reported in its Q3 results on January 27, 2023.
Yes Bank's net profit of ₹231.6 crore, fell short of market estimates set at ₹415.1 crore. The gross non-performing assets (NPA) of the bank remained at 2 percent, showing no change from the previous year.
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Conversely, the net NPA for the quarter was 0.9 percent, a slight improvement from 1.0 percent in the same period last year.
Stock and Market Expectations
Yes Bank shares traded flat last ahead as the market eagerly waited for the announcement of Q3 results 2024. Trading range-bound throughout the week, Yes Bank share price registered a marginal gain of ₹0.20 per share in the week gone by and ended at ₹24.90 on NSE on Thursday.
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Stock market experts expected Yes Bank to announce a healthy set of numbers in Q3FY24. They said that recoveries in the past few quarters are expected to keep the asset quality of the Yes Bank stable condition. With ARCs submitting bids for its two NPA loan books, the market is expecting healthy bottom-line growth in Q3FY24.
On the outlook of Yes Bank shares, Shiju Koothupalakkal, Technical Analyst at Prabhudas Lilladher said, “Yes Bank share has picked up quite well in the last 3 months from ₹16 zone and has maintained an uptrend with series of higher low formation on the daily chart with currently consolidating having the near-term support at ₹23.70 levels. On the upside, a decisive breach above ₹25.70 to ₹26 zone is much needed to confirm a breakout and thereafter can anticipate further rise with next targets of ₹28.50 and ₹31 levels visible."
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Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Published: 27 Jan 2024, 01:06 PM IST
Yes Bank Q3 results 2024: Net profit at ₹231 crore, NII up 2.3% - Mint
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