YES Bank’s Q3 net rises to Rs 231 cr helped by drop in loan-loss provisions

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India’s Yes Bank said third-quarter net profit more than quadrupled, helped by a drop in loan-loss provisions and healthy growth in loans, but the result still fell short of expectations.


The Mumbai-based private lender’s standalone net profit rose to Rs 231 crore ($27.8 million) in the three months ended Dec 31, it said on Saturday. That was up from Rs 51.52 crore in the same period a year earlier.


Analysts, on average, had expected a net profit of Rs 343 crore, according to LSEG data.


Provisions and contingencies fell to Rs 555 crore from Rs 845 crore a year earlier.

First Published: Jan 27 2024 | 1:55 PM IST