The bank’s provisions and contingencies rose to Rs 1,492.92 crore in the April-June quarter from Rs 1,359.73 crore in the same period a year ago.
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The company is pursuing “a prudent growth strategy” and have taken steps to “efficiently manage the emerging risks and challenges as well as protect turf in the face of intensifying competitive pressure”. The profit was estimated at Rs. 1,011 crore on revenue of Rs. 6,066 crore for the quarter, according to an average of estimates.
Standard restructured advances as a proportion of gross advances stood at 0.49% (Rs 522.9 crore) as on June 30, 2016, down from 0.71% (Rs 567.1 crore) as on June 30, 2015. Domestic bike sales were, however, up 13 per cent at 5,48,880 units as against 4,85,818 units in the same period last fiscal.
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Kapoor further added that, “YES Bank continues to post a robust CASA growth with the CASA ratio improving to a healthy 29.6 per cent from 23.4 per cent a year ago demonstrating significant momentum in the underlying Retail franchise platforms, as well as ongoing mandate in several corporate relationship groups”. The company also declared interim dividend of Rs 1.50 per equity share. Shares in the last 3 months have given a return of 5 per cent. The IDFC Bank stock rose 3.25 percent to Rs 52.65 on BSE, after the earnings were announced. It has in all three plants located in Waluj, Chakan and Pant Nagar.
