Yes Bank Q3 2024 Results: Shares Trade Flat as Market Anticipates Healthy Performance

Yes Bank shares traded flat ahead of the eagerly awaited Q3 2024 results announcement, with analysts predicting a substantial increase in net profit and steady growth in core revenue-generating activities.

Share Performance:

• Yes Bank’s share price experienced marginal gains of ₹0.20 per share throughout the week, closing at ₹24.90 on NSE.
• Analysts suggest the market is holding its breath for the Q3 results, leading to a relatively range-bound trading scenario.

Expectations for Q3 FY24:

• Analysts anticipate a healthy performance in Q3FY24, citing recoveries in previous quarters as a stabilizing factor for Yes Bank’s asset quality.
• Submission of bids for two NPA loan books by Asset Reconstruction Companies (ARCs) is expected to contribute to a robust bottom-line growth.

Analyst Predictions:

1. Shreyansh V Shah, Research Analyst at StoxBox:
   • Expects a stable asset quality due to improved recoveries.
   • Retail and MSME traction indicates strengthening of the bank’s franchise.
   • Anticipates healthy bottom-line growth in Q3FY24.
2. Sonam Srivastava, Founder and Fund Manager at Wright Research:
   • Foresees a significant 705.6% YoY increase in net profit to Rs. 415.1 crore.
   • Highlights positive signs of effective cost management, improved asset quality, and strategic initiatives.
   • Projects a 4.5% YoY increase in Net Interest Income (NII) to Rs. 2,059 crore, reflecting steady core revenue growth.
   • Notes a 6.6% YoY decline in Pre Provision Operating Profit (PPOP), with a 2.7% QoQ increase.

Share Price Outlook:

• Shiju Koothupalakkal, Technical Analyst at Prabhudas Lilladher, suggests an uptrend for Yes Bank shares.
• Recommends close observation of the ₹25.70 to ₹26 zone for a potential breakout.
• Targets of ₹28.50 and ₹31 levels are visible upon a decisive breach above the mentioned zone.

Q3 Results Date:

• Yes Bank’s board meeting is scheduled for Saturday, January 27, 2024, to announce the Unaudited Standalone and Consolidated Financial Results for Q3 and nine months ending December 31, 2023.

Disclaimer: The opinions and recommendations presented are those of individual analysts or broking companies, and not representative of Mint. Investors are advised to consult certified experts before making investment decisions.