Yes Bank has released the annual results. For the first time in the last two years, the bank has turned profit from losses. Its direct effect can be seen in the share of Yes Bank.
Yes Bank, which has been declared bankrupt by the private sector, is now once again gaining momentum from losses, which is good news for the economic condition of the country and the customers of the bank. Things have changed since the RBI dissolved the board of Yes Bank and took over the entire management. At the same time, a new board has also been constituted under the supervision of RBI. In such a situation, if you are an account holder or investor of Yes Bank, then this news is of your use.
Yes Bank made huge profit
Actually, Yes Bank has once again come back on the track with profits. Yes Bank has started making profits again with a profit of Rs 1,066 crore, performing well in the financial year 2021-22. Declaring the fourth-quarter results on Saturday, Yes Bank said that it has again come into a position of profit.
Yes Bank had a big loss last year
Let us tell you that in the financial year 2020-21, it had a net loss of Rs 3,462 crore. In his first year 2019-20, he had a huge loss of Rs 22,715 crore. For the first time after the financial year 2018-19, Yes Bank has been successful in earning profit in any financial year. It has made a total net profit of Rs 1,066 crore in the recently ended the financial year 2021-22, which is good news for investors.
Yes Bank made a profit of 38 percent
Giving information about the financial results to its investors of the stock market, Yes Bank said that it has earned a net profit of Rs 367 crore in the January-March 2022 quarter, compared to a loss of Rs 3,788 crore in the same period a year ago. The performance of the bank has also improved on a quarterly basis. It had a net profit of Rs 266 crore in the third quarter ended December 2021. In this way, its profit in the fourth quarter has increased by 38 percent compared to the third quarter.
This year’s income was low
Significantly, in the fourth quarter, Yes Bank’s total income stood at Rs 5,829.22 crore, while it was Rs 4,678.59 crore in the January-March 2021 quarter. However, the total income of Yes Bank remained only Rs 22,285.98 crore in the entire financial year, which is lower than Rs 23,053.54 crore in the financial year 2020-21.
Yes BanShare may see a rise
Let us tell you that these annual results, which came on Saturday, have made it clear that now Yes Bank has come out of the financial crisis and due to this the company has also made a lot of profit. In such a situation, it is believed that now during the next trading day, the stock of Yes Bank may see a boom in the stock market, which will be a great opportunity for investors to earn profits.