YES Bank Q1FY23 Results

Profit Growth 50%

With less bad loan provisions, Yes Bank claims a 50% increase in Q1 earnings at Rs 311 crore.

Yes Bank released its first-quarter financial year 2022–2023 results today. It posted an almost 50% increase in net profit year over year in the first quarter of FY23, coming in at Rs.311 crore.

Yes Bank released its first-quarter financial year 2022–2023 results today. It posted an almost 50% increase in net profit year over year in the first quarter of FY23, coming in at Rs.311 crore.

According to a BSE report by the private lender, NII for the quarter increased 32% YoY to Rs 1,850 crore. The quarter's NIM was 2.4%, an increase of roughly 30 basis points year over year.

The bank made provisions for the quarter totaling Rs 175 crore, which were down 62% YoY and 36% sequentially thanks to fewer slippages.

The private lender also recorded a YoY increase in overall income of 9.67%, while its income from interest increased by 13.47% during the same time.

The latest quarter that ended in June 2022 saw Yes Bank's income from investments increase to Rs.784.04 crore from Rs.617.38 crore in Q1FY22.

Yes Bank has been successful in raising the calibre of its assets. With a total provision cost of Rs.175 crore for Q1FY23, it saw a 62% YoY decrease in slippages.

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