Business
Yes Bank Q3 Results: Net profit soars 349.7% to Rs 231.6 crore; asset quality stable
By - 28 Jan 2024 09:16 PM
| Yes Bank Ltd's fiscal third-quarter profit surged more than fourfold but fell short of analysts' estimates. Net profit rose to Rs 231.6 crore for the quarter ended December 31 from Rs 51.5 crore a year ago, the bank said in a statement to stock exchanges on January 27. That compares with the Rs 415.1 crore quarterly profit estimate of brokerage Emkay Global.The lender's gross non-performing assets (NPA) remained steady at 2 percent in the three months ended December 31, while net NPA improved to 0.9 percent. Net interest income (NII) increased 2.3 percent from a year earlier. Operating profit rose 5.4 percent to Rs 864 crore.The bank also reported a 13.2 percent growth in deposits to Rs 2.4 lakh crore from last year. The current and savings account ratio (CASA) saw a slight decline to 29.4 percent in the quarter ended December 31 from 29.7 percent in the year earlier. |
