Yes Bank Q3 profit surges but falls short of estimates

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 ₹231 crore in the three months ended December 31, it said on Saturday. That was up from ₹51.52 crore in the same period a year earlier.

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

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