Yes Bank Q3 results 2024: Shares trade flat, market expects healthy Q3 results today

According to stock market experts, Yes Bank may announce a healthy set of numbers in Q3FY24 on Saturday. They said that recoveries in the past few quarters are expected to keep the asset quality of the Yes Bank stable condition. With ARCs submitting bids for its two NPA loan books, the market is expecting healthy bottom-line growth in Q3FY24.

Yes Bank Q3 results 2024 expectations

Expecting healthy Q3 results today, Shreyansh V Shah, Research Analyst at StoxBox said, “We expect Yes Bank to come out with a healthy set of numbers in Q3FY24 as the bank’s asset quality is expected to remain stable due to the improvement seen in the recoveries in the past few quarters. This can be further nominated by the SMA book remaining flattish sequentially. The traction in retail and MSME indicates that the bank is gradually picking up pace in strengthening its retail franchise. Also, traction on disbursements in retail and MSME segments was quite healthy in its Q3FY24 business updates. With ARCs submitting bids for its two NPA loan books, we believe the bank will have healthy bottom-line growth in Q3FY24.”

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Expecting a bumper rise in net profit of the Yes Bank, Sonam Srivastava, Founder and Fund Manager at Wright Research said, “As of now, the market is anticipating YES Bank’s Q3 results with a positive outlook, as reflected in the estimates provided by analysts. The net profit is projected to increase 705.6% year-on-year to Rs. 415.1 crore, if realized, would mark a significant turnaround for the bank, highlighting its recovery and potential for growth. Such a substantial rise in profitability could be indicative of effective cost management, improved asset quality, and successful implementation of strategic initiatives.

“The expected 4.5% year-on-year increase in Net Interest Income (NII) to Rs. 2,059 crore, along with a 5.3% rise from the previous quarter, suggests a steady growth in the bank’s core revenue-generating activities. This is a positive sign, as NII is a crucial metric for assessing a bank’s financial health,” Sonam added.

However, the anticipated 6.6% year-on-year decline in Pre Provision Operating Profit (PPOP) could be a point of concern, although the quarter-on-quarter increase of 2.7% might offset some negative perceptions.

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Sonam Srivastava went on to add that the market’s reaction to YES Bank’s actual Q3 results 2024 will depend on how closely these projections align with the reported figures and the bank’s guidance for future quarters. Investors and analysts will also be keenly observing the management’s commentary during the post-results conference for insights into the bank’s strategic direction and operational focus areas.

Yes Bank share price outlook

On the outlook of Yes Bank shares, Shiju Koothupalakkal, Technical Analyst at Prabhudas Lilladher said, “Yes Bank share has picked up quite well in the last 3 months from ₹16 zone and has maintained an uptrend with series of higher low formation on the daily chart with currently consolidating having the near-term support at ₹23.70 levels. On the upside, a decisive breach above ₹25.70 to ₹26 zone is much needed to confirm a breakout and thereafter can anticipate further rise with next targets of ₹28.50 and ₹31 levels visible.”

Informing Indian stock market exchanges about the board meeting date and its agenda, Yes Bank said, “Notice is hereby given that a meeting of the Board of Directors of YES Bank Limited (the “Bank”) will be held on Saturday, January 27, 2024, at Mumbai, inter alia, to consider and approve, the Unaudited Standalone and Consolidated Financial Results of the Bank for the Quarter (Q3) and nine months ended December 31, 2023.”

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 27 Jan 2024, 07:21 AM IST