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YES Bank reports surprise 80% plunge in Q3 profit to Rs 51 cr as NPAs rise

Net profit fell to Rs 51.52 crore for the three months through December from Rs 266 crore

YES Bank
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Yes Bank reported a surprise 80 per cent plunge in quarterly profit on Saturday as provisions for bad loans increased.

Net profit fell to Rs 51.52 crore ($6.36 million) for the three months through December from Rs 266 crore in the same period a year earlier. Analysts had expected profit to rise to Rs 336 crore, according to Refinitiv IBES data.

But net interest margin, a key indicator of a bank's profitability, rose 10 basis points to 2.5 per cent.

The bank's asset quality improved as gross non-performing assets declined to 2.02 per cent of total loans from 12.89 per cent in the

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First Published: Jan 21 2023 | 3:38 PM IST

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