Yes Bank (YES Bank) recorded a three-fold increase in net profit in the October-December quarter of the current financial year, which stood at Rs 612 crore. The bank’s net profit was Rs 231 crore in the same quarter of the last financial year, which shows an increase of 165 percent on an annual basis.
On Friday, the price of Yes Bank’s shares fell 1.24 percent to close at Rs 18.25. The bank shares have fallen by 26 percent in the last 6 months.
Income more than Rs 9000 crore
Yes Bank informed the stock market that its total income increased to Rs 9,341 crore in the third quarter of the current financial year, compared to Rs 8,179 crore in the same quarter of the previous financial year. The bank’s interest income increased to Rs 7,829 crore in this quarter, which was Rs 6,984 crore in the same quarter of the previous year.
10 percent increase in NII
Yes Bank’s Net Interest Income (NII) increased by 10 percent to Rs 2,224 crore in the December quarter, which was Rs 2,017 crore in the third quarter of the previous financial year. The bank’s net interest margin (NIM) remained stable at 2.4 percent. The operational benefits increased to Rs 1,079 crore in this quarter, which was Rs 864 crore in the same period last year.
NPA improvement
The bank’s gross non-performing asset (NPA) ratio in terms of asset quality improved to 1.6 percent at the end of the December quarter, which was 2 percent last year. Similarly, pure NPA or poor debt declined from 0.9 percent to 0.5 percent at the end of the third quarter of the previous financial year.
