Yes Bank Q4 Results: Private sector bank Yes Bank has presented excellent quarterly results, defying analysts’ estimates. If we look at Yes Bank’s fourth quarter (Q4) results of FY24, the bank’s net increased by 123.2 percent year-on-year to ₹452 crore, compared to ₹202.4 crore in Q4FY23. The bank witnessed strong growth in non-interest income, which witnessed 56.3 per cent YoY and 31.3 per cent QoQ growth in Q4FY24. On the operations front, the bank’s operating costs rose to ₹2,819 crore, an increase of 27.0 per cent year-on-year. Operating expenses for Q4 increased by 15.5 percent year-on-year. Operating profit for the quarter was ₹902 crore, up 1.5 per cent year-on-year and 4.4 per cent quarter-on-quarter.
Mahindra Lifespace’s profit declines
The integrated net profit of Mahindra Lifespaces Developers Limited, the real estate and infrastructure development arm of Mahindra Group, declined marginally to Rs 97.89 lakh in the last financial year (2023-24). The net profit of the company in the financial year 2022-23 was Rs 101.43 crore. According to the information given to the stock market, the total income of the company decreased to Rs 279.12 crore in the last financial year, which was Rs 659.56 crore in the financial year 2022-23. The consolidated net profit of the company increased to Rs 71.15 crore in the March quarter of the last financial year, which was only Rs 55 lakh in the March 2023 quarter. The company’s total income declined to Rs 54.60 crore in the March quarter from Rs 270.26 crore in the March 2023 quarter.
Indiabulls real estate losses increase
The consolidated net loss of the country’s leading real estate developer Indiabulls Real Estate Limited (IBREL) has widened to Rs 1,038.65 crore in the last financial year. The net loss of the company in the financial year 2022-23 was Rs 608.38 crore. In the information given to the stock market, IBREL said that its total income also decreased to Rs 468.75 crore in the last financial year, which was Rs 648.47 crore in the financial year 2022-23. The company’s net loss declined to Rs 302 crore in the March quarter from Rs 375.99 crore in the March quarter of FY 2022-23. The company’s total income declined to Rs 39.54 crore in the March quarter from Rs 132.91 crore in the same quarter of FY 2022-23.
Latest Business News