Yes Bank Q4 net profit grows 27% to Rs 702 crore

On the asset quality front, the bank's net NPAs, or bad loans, increased to 0.29% of total advances in the March quarter

Private lender Yes Bank on Wednesday reported a 27.4% rise in its stand-alone net profit at Rs 702.1 crore for the fourth quarter ended March.

Net profit stood at Rs 551 crore in the corresponding quarter of 2014-15.

Its total income has increased to Rs 4,331.1 crore for the quarter ended March, up 17.7%, from Rs 3,678.8 crore for the March quarter of 2015, it said in a BSE filing.

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The bank's net interest income in January-March went up by 27.1% to Rs 1,241.4 crore, while non-interest income grew 36% to Rs 802.8 crore.

Yes bank's total provisioning against bad loans in the said quarter climbed 47.6% to Rs 186.5 crore, compared with Rs 126.4 crore in the same quarter of 2014-15.

On the asset quality front, the bank's net non-performing assets (NPAs), or bad loans, increased to 0.29% of total advances in the March quarter, from 0.12% a year ago.

Likewise, gross NPAs grew to 0.76% in the last quarter, from 0.41% a year earlier.

For the full fiscal 2015-16, the bank posted a net profit of Rs 2,539.5 crore as against Rs 2,005.4 crore in the year-ago period.

Total income during the fiscal jumped to Rs 16,245.6 crore, from Rs 13,618.5 crore in the previous fiscal.

In a separate filing, Yes Bank's board recommended payment of a final dividend of Rs 10 per share.

The stock was trading 0.33% higher at Rs 913.60 on BSE at 1110 hours.