Yes bank presented a robust Q4 result on May 17 2024.It reported a net profit of RS.452 crore for the F.Y.ending 31st march 2024
HIGHLIGHTS
Net profit for Q4 FY24 452 cr up 123.2%,95,QOQ-95.2%
Net profit for FY 24 RS 1251 cr up 74.4%Y-O-Y.
Improvement in Asset quality GNPA at 1.7%,NNPA at 1.7%, GNPA NNPA Ratio each down 30 bps qoq.
Non interest income for Q4 FY 24 at 1569 cr ,up 31.3% qoq.
The Return on asset grew to 0.5% fr q4 FY24 vs 0.2% q4FY 23.
Total Balancesheet grew 14.3%YOY.
Achievements
PAYTM partnership offering services to both existing and new customers(as psp payment bank) and merchants (collections) as well as providing settlement services.
Principal sponsor :Indian Olympic Association (IOA) as their official banking partner for team India for Paris Olympic 2024.
What investors should do?
The bank has presented a stellar result and is on the right track of growth but the present valuation is high compared to peers,PE is above 40 ,whereas peers PE below 20.So one should be cautious for fresh entry.
Disclaimer: Mint Mantra provides the articles and information gathered from other sites like company website and declaration to exchange and is for informational purpose only and this should not be construed as any advice for investment of any kind.Readers are suggested to consult the qualified financial consultant before making any investment decision.
