News

Published: October 26, 2024
Updated: October 26, 2024

Yes Bank Q2 Results 2024: Net Profit Jumps 10%, Total Income and Asset Quality Improve

Yes Bank reported strong financial results for the second quarter of FY2025, showcasing growth across several key metrics, including net profit, total income, and improvements in non-performing assets (NPA). The board approved these unaudited Q2 results on Saturday, reflecting positive momentum for the private lender.

Rise in Net Profit

Yes Bank’s net profit increased from ₹502.43 crore in Q1FY25 to ₹553.04 crore in Q2FY25, marking a 10% quarter-on-quarter (QoQ) growth. The annual comparison was even more remarkable, as net profit surged from ₹225.21 crore in the same period last year, showing the bank’s impressive progress over the year.

Steady Growth in Total Income

During the July to September 2024 quarter, Yes Bank’s total income reached ₹9,137.09 crore, up from ₹8,918.14 crore in Q1FY25, translating to a 2.45% QoQ increase. In year-over-year (YoY) terms, total income saw a significant jump from ₹7,920.68 crore in Q2FY24, reflecting the bank's robust revenue growth trajectory.

Increased Provisions and Financial Stability

Yes Bank also increased its provisions in Q2FY25 to ₹297.10 crore, up from ₹211.77 crore in the previous quarter. Despite this rise, provisions remain lower than the ₹500.38 crore set aside in Q2FY24, underscoring enhanced financial stability as the bank navigates the year.

Improvement in Asset Quality

The bank reported a decrease in gross and net non-performing assets (NPA). Gross NPA was reported at ₹3,889.43 crore in Q2FY25, compared to ₹3,844.90 crore in the previous quarter and a notable reduction from ₹4,319.03 crore in Q2FY24. Additionally, net NPA decreased to ₹1,168.02 crore, down from ₹1,246.03 crore in Q1FY25 and significantly lower than the ₹1,885.19 crore recorded in Q2FY24. These improvements in asset quality underscore the bank’s successful management of non-performing assets over time. Yes Bank's Q2 results for FY2025 highlight its upward trajectory, with steady growth in profits, income, and asset quality. These positive trends position Yes Bank favorably as it heads into the next quarter, reflecting a strengthened financial foundation amidst an evolving banking landscape.