Q1FY19 Result: Yes Bank posts 54 by per cent rise in advances

Yes Bank reported stable results in Q1FY19 with a steep rise in provisions over the previous year.

The net interest income for the quarter rose by 22.7 per cent yoy and 3 per cent qoq to Rs. 2,219 crore in Q1FY19 vs Rs. 1,808 crore in the corresponding quarter the previous year.

The asset quality remained stable over the quarter edged up to GNPA of 1.31 per cent for the quarter vs 1.28 per cent in the previous quarter and 0.97 per cent in the corresponding quarter the previous year.

The provisions for the quarter more than doubled to Rs. 625 crore in Q1FY19 vs Rs. 285 crore in previous year corresponding quarter. The resultant net profit for the quarter rose by 30.6 per cent in Q1FY19 to Rs. 1,260 crore.

Further, the advances grew by 54 per cent yoy which was led by 14 per cent yoy increase in retail advances for the quarter.

The stock is trading down by 1.45 per cent at Rs. 364 per share