Yes Bank share price surged over 7% in the morning trade on Monday on the back of strong Q4 earnings of the bank. Yes Bank stock today made an intraday high of Rs 28.55 against its previous close of Rs 26.15. Yes Bank’s net profit for Q4FY24 stood at Rs 452 crore against Rs 202 crore in the same period last year, a jump of 123% YoY. The bank’s Net Interest Income (NII) for the quarter stood at Rs 2,153 crore against Rs 2,105 crore posted in the same period last year.
The bank’s net profit was however aided by a significant rise in other income, coming in at Rs 1,568 crore, an increase of 57% from last year. Other income included fees and commissions earned from guarantees and letters of credit, loans, and financial advisory fees.
“We made consistent improvements across key metrics in the last year. FY24 marks our third straight year of profitability since the reconstruction,” said Prashant Kumar, MD & CEO of Yes Bank in their earnings concall on Saturday.