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Stock Report
Yes Bank Total income for Q4-FY2007 up 177% to Rs.281.09 crore, Profit after tax up 102%
Posted On : 2007-04-24 20:04:04( TIMEZONE : IST )
Mumbai, April 24, 2007: The Board of Directors of YES BANK Ltd. took on record the un-audited results for Q4-FY2007 and the audited results for FY - 2007 at its meeting held in Mumbai today.
Total income for Q4-FY2007 was up 177% to Rs. 281.09 crore as compared to Rs. 101.34 crore for Q4-FY2006. Operating profit for Q4-FY2007 was up 78% to Rs. 59.76 crore as compared to Rs. 33.56 crore for Q4-FY2006. Profit after tax for Q4-FY2007 was up 102% at Rs. 30.90 crore as compared to Rs. 15.32 crore for Q4-FY2006. Total Advances grew by 161% to Rs. 6,290 crore from Rs. 2,407 crore as at March 31, 2006. Total Deposits grew by 182% to Rs. 8,220 crore from Rs. 2,910 crore as at March 31, 2006.
Total income for FY2007 was up 170% to Rs. 782.18 crore as compared to Rs. 289.92 crore for FY2006. Operating profit for FY2007 was up 74% to Rs. 172.43 crore as compared to Rs. 99.08 crore for FY2006. Profit after tax for FY2007 was up 71% at Rs. 94.36 crore as compared to Rs. 55.32 crore for FY2006.
Announcing the Q4 results of the Bank, Rana Kapoor, Founder / Managing Director & CEO, YES BANK said, "We have witnessed significant progress towards our sustained growth over the fiscal year 2006-07. The relentless efforts of our leadership and top management team have enabled effective execution in all businesses including Corporate & Institutional Banking, Business Banking, Financial Markets, Investment Banking, Corporate Finance, Transactional Banking and Retail Banking & Wealth Management. The year has also seen significant investments into the Retail branch network that has enabled to augment our service delivery channels." "We have seen a strong upward trend in customer accretion, and have continued to develop our product portfolio with a comprehensive range of products that go beyond conventional banking. This will provide the support and impetus required for strong organic growth over the ensuing quarters, and we are confident of sustaining and further accelerating our business momentum and profitability" he further added.
Other Performance Highlights and Ratios:
- Advances at Rs. 6,290 crore; Growth of 161% over March 31, 2006.
- Deposits at Rs. 8,220 crore; Growth of 182% over March 31, 2006.
- Return on Assets (annualized) of 1.28% and Return on Equity (annualized) of 16.24% in Q4-FY2007
- Return on Assets of 1.24% and Return on Equity of 13.9%in FY2007
- Capital Adequacy Ratio of 13.6% (Tier I - 8.2%) as at March 31, 2007.
- Book value per share of Rs. 28.11 and Basic EPS (non-annualized) of Rs. 1.10 as at March 31, 2007.
The stock closed the day at Rs.153.85, up by Rs.6.40 or 4.34%. The stock hit an intraday high of Rs.157.50 and low of Rs.147.40. The total traded quantity was 1599051 shares at an average price of Rs.153.55 resulting in a turnover of Rs.2455.34 Lakhs.
