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Yes Bank Net up 31% at Rs 882.6 cr for Oct-Dec qtr

NEW DELHI, Jan 19:  Yes Bank today posted a 30.6 per cent rise in net profit at Rs 882.63 crore for the third quarter ended December 2016, on lower provisions for bad loans and higher interest income.

The private sector-lender had reported a net profit of Rs 675.74 crore for the same quarter of the previous fiscal 2015-16.

“Total income has increased to Rs 5,229.96 crore for the quarter ended December 2016, from Rs 4,122.12 crore for the same quarter a year ago,” Yes Bank said in a regulatory filing.

It said that it earned interest of Rs 4,231.61 crore during the December quarter of current fiscal, up 25.3 per cent from Rs 3,376.05 crore in the corresponding October-December quarter of 2015-16.

Also, the bank’s provisions (other than tax expense) and contingencies came down to Rs 115.38 crore for the quarter, against Rs 147.94 crore for the same period of previous fiscal.

Gross non-performing assets (NPAs) stood at 0.85 per cent of gross advances as on December 31, 2016, slightly up from 0.66 per cent a year ago.

Net NPAs were at 0.29 per cent of net advances disbursed as on December 31, 2016, against 0.22 per cent.

In absolute value, gross NPAs rose to Rs 1,005.85 crore from Rs 558.57 crore. While, net NPAs of the bank were at Rs 342.45 crore, up from Rs 187.16 crore.

(PTI)

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