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Yes Bank shares jump over 6% on strong Q1 results

LiveMint logoLiveMint 26-07-2017 PTI

New Delhi: Shares of Yes Bank surged over 6% on Wednesday after the company’s net profit zoomed 32% for the first quarter ended June.

The scrip soared 6.10% to end at Rs1,712.55 on the BSE. Intra-day, it jumped 6.73% to Rs1,722.80—its 52-week high level. At the NSE, it climbed 5.81% to close at Rs1,711.95.

The company’s market valuation also rose by Rs4,502.22 crore to Rs78,348.22 crore. In terms of volume, 8.14 lakh shares of the company were traded on the BSE and over 85 lakh shares changed hands at the NSE during the day.

Private lender Yes Bank’s net profit zoomed 32% to Rs965.52 crore for the first quarter ended June compared to the year-ago period.

The bank had reported a net profit of Rs 731.80 crore in the same quarter of last fiscal.

The board of directors at a meeting held today approved sub-division of one equity share into five -- in the ratio of 1:5—it said in a regulatory filing.

According to the filing, total income of the bank jumped to Rs 5,785.96 crore in the April-June quarter, from Rs 4,762.83 crore in the same quarter of 2016-17.

Gross non-performing assets (NPAs) of the bank rose to 0.97% of gross advances as on 30 June 2017, against 0.79% as of 30 June 2016.

Net NPAs, or bad loans, were up marginally at 0.39% of net advances on 30 June 2017, from 0.29% at the end of the first quarter of 2016-17.

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