Yes Bank Q3 results: Yes Bank’s net profit has almost tripled to Rs 612 crore in the October-December quarter of the current financial year. The gain was due to reduction in provisions for bad debts. The net profit of this private sector bank was Rs 231 crore in the same quarter of the last financial year. Yes Bank said in the information given to the stock market on Saturday that its total income increased to Rs 9,341 crore in the third quarter of the current financial year, which was Rs 8,179 crore in the same quarter of the last financial year.
increased interest income
The bank’s interest income increased to Rs 7,829 crore in the quarter under review from Rs 6,984 crore in the same quarter of the last financial year. The private sector bank’s net interest income rose 10 per cent to Rs 2,224 crore in the December quarter from Rs 2,017 crore in the third quarter of the last financial year. The bank’s net interest margin (NIM) remained stable at 2.4 per cent. Operating profit rose to Rs 1,079 crore in the December quarter from Rs 864 crore in the same period last year.
reduced NPA
On the asset quality front, the bank’s gross non-performing asset (NPA) ratio improved to 1.6 percent at the end of the December quarter, from 2 percent last year. Similarly, net NPA or bad loans declined to 0.5 per cent from 0.9 per cent at the end of the third quarter of the last financial year. As a result, total provisions excluding taxes declined to Rs 259 crore from Rs 555 crore in the same quarter a year ago. The capital adequacy ratio declined to 15.2 per cent, from 16 per cent at the end of the third quarter of the last financial year.
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