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Wednesday, April 25, 2007

Yes Bank - Way To Go

Yes Bank net jumps 102%

Yes Bank posted a 102% growth in profit after tax for the quarter ended March 31, 2007, to Rs 30.9 crore, as compared to a profit of Rs 15.3 crore reported in the corresponding for the previous fiscal.

The bank reported a year-on-year profit of Rs 94.4 crore, up 71% from last year’s Rs 55.3 crore. The growth was led by a 205% year-on-year growth in interest earned by the bank, which rose to Rs 587.6 crore, as against Rs 192.8 crore reported last year.

The bank’s operating profit for the quarter ended March 31, 2007 stood at Rs 59.8 crore, a 78% rise from the corresponding quarter in the previous fiscal.

Operating profit showed a 74% yearly growth to Rs 172.4 crore. Total advances were reported at Rs 6,290 crore, a 161% growth from last fiscal’s Rs 2,407 crore and total deposits grew 182% to Rs 8,220 crore from Rs 2,910 crore.

The bank reported a 177% growth in total income for Q4-FY07 to Rs 281.1 crore, as compared to Rs 101.3 crore for the corresponding period of the previous year. Total yearly income for the past fiscal also rose 170% to Rs 782.2 crore. Capital adequacy ratio for the bank stood at 13.6% on March 31, 2007.

Source : The Economic Times

Labels: Yes Bank

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