YES Bank Ltd posts consolidated loss of Rs. 3790.92 crore in Q4FY21

YES BANK LTD. has reported financial results for the period ended March 31, 2021.

Financial Results (Q4 FY20-21) - QoQ Comparison

The company has reported total income of Rs.4834.92 crores during the period ended March 31, 2021 as compared to Rs.6545.72 crores during the period ended December 31, 2020.

The company has posted net profit / (loss) of Rs.(3790.92) crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.147.68 crores for the period ended December 31, 2020.

The company has reported EPS of Rs.(1.51) for the period ended March 31, 2021 as compared to Rs.0.06 for the period ended December 31, 2020.

Financials	Q4 FY20-21	Q3 FY20-21	% Change
Total Income	₹ 4834.92 crs	₹ 6545.72 crs	-26.14%
Net Profit	₹ (3790.92) crs	₹ 147.68 crs	-2666.98%
EPS	₹ (1.51)	₹ 0.06	-2616.67%

Financial Results (Q4 FY20-21) - YoY Comparison

The company has reported total income of Rs.4834.92 crores during the period ended March 31, 2021 as compared to Rs.5842.40 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.(3790.92) crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.2665.19 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.(1.51) for the period ended March 31, 2021 as compared to Rs.(8.22) for the period ended March 31, 2020.

Financials	Q4 FY20-21	Q4 FY19-20	% Change
Total Income	₹ 4834.92 crs	₹ 5842.40 crs	-17.24%
Net Profit	₹ (3790.92) crs	₹ 2665.19 crs	-242.24%
EPS	₹ (1.51)	₹ (8.22)	-81.63%

Financial Results (Year ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.23475.39 crores during the 12 months period ended March 31, 2021 as compared to Rs.29593.12 crores during the 12 months period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.(3488.93) crores for the 12 months period ended March 31, 2021 as against net profit / (loss) of Rs.(16432.58) crores for the 12 months period ended March 31, 2020.

The company has reported EPS of Rs.(1.65) for the 12 months period ended March 31, 2021 as compared to Rs.(77.62) for the 12 months period ended March 31, 2020.

Financials	Year Ended FY20-21	Year Ended FY19-20	% Change
Total Income	₹ 23475.39 crs	₹ 29593.12 crs	-20.67%
Net Profit	₹ (3488.93) crs	₹ (16432.58) crs	-78.77%
EPS	₹ (1.65)	₹(77.62)	-97.87%

Key updates of Q4FY21/ FY21

- During FY21, the Bank has demonstrated significant improvement in performance across key indicators despite severe headwinds of Covid-19 & moratorium imposed in Mar'20

- Operating Profits for FY21 at INR 4,977 Crores, grew 42% y-o-y on the back of NII growth and reduction in operating expenses

- Deposits at INR 1,62,947 Crores grew 11% q-o-q and 55% y-o-y with ~6.6 Lac CASA accounts opened in FY21. CD ratio at ~102.4% from 162.7% in Mar'20

- Retail + SME disbursements at INR ~12,150 Crores in Q4FY21- lifetime highest disbursals in H2FY21; Retail and MSME advances mix at 51%, up ~700 bps y-o-y and ~300 bps q-o-q

- Robust cash recoveries from NPA/ NPI at INR 4,933 Crores in FY21; INR 1,960 Crores in Q4FY21

- Continued Leadership in Technology: UPI: #1 in P2M transactions, ~45% vol. market share, IMPS: #1 Remitter Bank*

- Various initiatives taken to support customers and employees during these trying times of the Covid pandemic

Financial Highlights

- Liquidity Coverage Ratio remains healthy at ~122% as on March 31, 2021

- Capital position: CET I ratio comfortable at 11.2%, Total CRAR at 17.5%

- NII for FY21 at INR 7,429 Crores grew 9% y-o-y (interest reversals in Q4FY21 after Hon' Supreme Court verdict on standstill NPAs & interest on interest)

- Non-Interest income for FY21 at INR 3,341 Crores and INR 816 Crores for Q4FY21; robust core fee income (excluding P&L on Sale of Investments) up 22% q-o-q

- Operating expenses for FY21 at INR 5,792 Crores were lower by 14% y-o-y

- Net Advances at INR 1,66,893 Crores; Strong momentum sustained in Retail and SME disbursements

- Asset quality parameters:

* GNPA of 15.41%
* NNPA of 5.88%
* Proactive provisioning of ~INR 250 Crores towards Covid related restructuring (~INR 2,500 Crores) expected to be implemented in Q1FY22

- Despite elevated slippages, the bank has prudently made accelerated provisioning reflected in the PCR# for NPA at ~79% and PCR for NPI at ~92%, resulting into a Net Loss of INR 3,788 Crores

Shares of YES BANK LTD. was last trading in BSE at Rs.14.55 as compared to the previous close of Rs. 14.55. The total number of shares traded during the day was 11656206 in over 14495 trades.

The stock hit an intraday high of Rs. 14.8 and intraday low of 14.4. The net turnover during the day was Rs. 170835358.

Source : Equity Bulls

Keywords