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YES Bank shares shot up over 1 per cent in early trade on Monday.
The bank said it has paid Rs 260 crore as advance taxes for January-March vs Rs 200 crore in the same quarter last year, a source at the lender told Reuters
Analysts use tax numbers to reverse-calculate profit before taxes.
A YES Bank spokesman was not immediately reachable for comment.
Citigroup upgraded YES Bank to "buy" from "neutral" last week.
The stock trades at 12-month forward price-to-book of 1.5 times vs 2.7 times for its larger rivals, according to Thomson Reuters data.
At 10.50 am, the stock was trading up 0.97 per cent or Rs 7.80 at Rs 811 on the BSE.
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