Yes Bank has reported a 60% year-on-year (y-o-y) drop in quarterly net profit at Rs 45.44 crore, because of its sharp fall in total income and, a decline in its intrest income by 30% on a y-o-y basis and, a 51% drop in other income during this quarter which led to a fall of 30% in the total income to Rs 6,107 crore in the April-June quarter.
Its net interest income fell by 16% to Rs 1,908 crore while, net interest margin stood up by 3% during the quarter ended on 30 June and, has a drop in its total provisions on a y-o-y basis of 39% to Rs 1,087 crore, including provisions made in Covid-19 of Rs 642 crore.
Due to the continued slowdown in the economic activities, the lending business has been impacted, which has also impacted customer’s defaults and consequently increase In provisions at the group levels and had affected the repaying abilities of the customer. According to the disclosure of May 6, the private lender has 40-45% of its retail and corporate loans under moratorium. The former CFO of SBI has said that any specific moratorium number can be ‘misleading.’
The Gross Non-Performing Assets (NPAs) ratio remained at 17.3%, against 16.8% in the March quarter, and 5.01% in the previous year quarter. The Net Non-Performing Assets (NPAs) in the June quarter was 4.96%, compared to 5.03% in the quarter ended on 31 March. The bank’s total deposits grew by 11.39% quarter-on-quarter to Rs 1.17 trillion, which fell by 48% on y-o-y basis. The total advances declined by 4% and, 30% from a year-ago period to Rs 1.64 trillion in the April-June quarter.

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