YES Bank surged over 6 per cent today as the bank's net profit zoomed 32 per cent for the first quarter ended June 30, 2017.
The scrip soared 6.1 per cent to end at Rs 1,712.55 on the BSE. Intra-day, it jumped 6.73 per cent to Rs 1,722.80 — its 52-week high level. On the NSE, the scrip climbed 5.81 per cent to close at Rs 1,711.95.
The bank's market valuation also rose Rs 4,502.22 crore to Rs 78,348.22 crore.
In terms of volume, 8.14 lakh shares of YES Bank were traded on the BSE and over 85 lakh shares changed hands on the NSE during the day.
Private lender YES Bank’s net profit zoomed 32 per cent to Rs 965.52 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, the bank 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) rose to 0.97 per cent of gross advances as of June 30, 2017 from 0.79 per cent as of June 30, 2016.
Net NPAs, or bad loans, were up marginally at 0.39 per cent of net advances on June 30, 2017 from 0.29 per cent at the end of the first quarter of 2016-17.