YES Bank reported standalone September-quarter profit of Rs 1,080 crore on 17 October, up 65% from a year earlier. However, the accounts did not recognise the financial impact of the Supreme Court’s ruling on Rs 8,415 crore of AT1 bonds, Moneycontrol reported.
The joint statutory auditors issued a qualified review conclusion on that issue. The bank said it was evaluating the judgment, its implementation and available legal remedies after the court upheld the decision against the earlier bond write-down.
A separate pro forma disclosure showed a quarterly net loss of Rs 5,217 crore if that impact were recognised. It is essential to keep that conditional figure separate from reported profit when reading the earnings announcement.