Business News | YES Bank Q3 Profit Surges 76.8 Per Cent to Rs 266 Crore

Mumbai (Maharashtra) [India], January 22 (ANI): Private sector lender YES Bank on Saturday announced Rs 266 crore net profit for the third quarter of the current financial year, which is 76.8 per cent higher when compared with Rs 151 crore profit recorded in the corresponding quarter of last year.

The company's net profit is 18.2 per cent higher from its previous quarter's profit of Rs 225 crore.

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YES Bank's total net income dipped by 31.5 per cent to Rs 2,498 crore in October-December 2021 quarter as against Rs 3,648 crore recorded in the corresponding period of previous year.

The lender's net interest income fell by 31.1 per cent to Rs 1,764 crore in the quarter ended December 31, 2021 as against Rs 2,560 crore recorded in the corresponding quarter of 2020-21.

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The company's non-interest income plunged by 32.5 per cent to Rs 734 crore in the third quarter of the current financial year as against Rs 1,087 crore recorded in the third quarter of 2020-21.

The bank's Gross NPA ratio improved to 14.7 per cent in the third quarter of the current financial year as against 15.0 per cent in the previous quarter. The bank's improved NPA ratio was due to a substantial drop in slippages. For the third quarter of the current financial year slippages dropped to Rs 978 crore as against Rs 1,783 crore recorded in the previous quarter. (ANI)

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