Yes Bank Q3 Results: Net profit soars 349.7% to Rs 231.6 crore; asset quality stable

The bank’s gross non-performing assets (NPA) stood at 2.0 percent, no change from 2.0 percent last year.

Yes Bank Ltd’s fiscal third-quarter profit surged more than fourfold but fell short of analysts’ estimates.

Net profit rose to Rs 231.6 crore for the quarter ended December 31 from Rs 51.5 crore a year ago, the bank said in a statement to stock exchanges on January 27. That compares with the Rs 415.1 crore quarterly profit estimate of brokerage Emkay Global.

The lender’s gross non-performing assets (NPA) remained steady at 2 percent in the three months ended December 31, while net NPA improved to 0.9 percent.

Net interest income (NII) increased 2.3 percent from a year earlier. Operating profit rose 5.4 percent to Rs 864 crore.

The bank also reported a 13.2 percent growth in deposits to Rs 2.4 lakh crore from last year.

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