Yes Bank Q3 net profit decline by 7%

Yes Bank on Thursday reported a 7 per cent decline in its net profit for the third quarter of the financial year 2018-19.

According to the private lender, its Q3 net profit declined to Rs 1,001.85 crore from Rs 1,076.87 crore reported for the corresponding period of the previous financial year.

The bank, however, reported a total income of Rs 8,849.81 crore during the period under review, 36 per cent higher than Rs 6,492.56 crore earned during the October-December quarter of FY 2017-18.

"Gross Non-Performing Asset (GNPA) at 2.10 per cent, Net Non-Performing Assets (NNPA) at 1.18 per cent and Provisioning Coverage Ratio (PCR) at 44.2 per cent. Excluding the extraordinary impact of aggregate exposure to a stressed infrastructure conglomerate, GNPA improved sequentially to 1.32 per cent from 1.60 per cent last quarter, NNPA improved to 0.59 per cent from 0.84 per cent last quarter and PCR improved to 55.6 per cent from 47.8 per cent," Yes Bank said in a statement.

Yes Bank MD and CEO Rana Kapoor said in the statement: "Yes Bank has once again delivered satisfactory performance across income growth, margins, profitability and Capital accretion, despite the recognition and provision impact from a stressed Infrastructure conglomerate.

"Retail Assets growth momentum continues, while growth in Corporate business segments has been rebalanced after witnessing strong market share driven growth over the last few preceding quarters."

--IANS

ravi/nir