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Yes Bank Q3 results 2024: Shares traded flat, market expects healthy Q3 results today
Yes Bank shares traded flat last ahead as the market is eagerly waiting for the announcement of Q3 results 2024. Trading range-bound throughout the week, Yes Bank share price registered a marginal gain of ₹0.20 per share in the week gone by and ended at ₹24.90 on NSE on Thursday. 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." 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. Source - Mint
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