Q2 profit rises 65%; AT-1 ruling cuts pro forma CET-1 to 11.4%
YESBANK · price
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On the reaction day the stock moved 0.7 pts less than Nifty Midcap 150 and 0.2 pts more than its Private Sector Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Q2FY27 net profit rose 65% YoY to INR 1,080 crore; NII up 22.7% to INR 2,822 crore. NIM was 2.6%, down 12-14 bps QoQ on FCNR deposits. Supreme Court upheld reversal of the INR 8,415 crore AT-1 write-off; management estimates pro forma CET-1 at 11.4% versus 13.7% reported, and is assessing legal, coupon and capital actions. Gross and net NPAs were 1.2% and 0.2%; management expects Q4 margin improvement.
Strong profit growth helps, but the AT-1 ruling weakens capital, may trigger a raise and weigh on the stock. Margin recovery is expected in Q4.