Yes Bank's standalone net profit doubled in Q3 2023-24, leading to a 4% share surge.
Yes Bank shares surged nearly 4% after the private sector lender reported an over two-fold jump in standalone net profit for the March quarter of 2023-24. The stock climbed 3.67% to Rs 27.11 on the BSE, and 3.63% to Rs 27.10 on the NSE. The increase in profit is attributed to benefits from provision and write-back on income tax. Despite this, profits were limited by the bank's inability to comply with the mandatory priority sector lending requirements.
April 29, 2024
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