Yes Bank first-quarter net profit beats estimates; bad loan ratio falls

REUTERS - Yes Bank reported a 32 percent rise in quarterly profit, beating estimates, helped by higher interest and fee income.

Net profit rose to 9.66 billion rupees ($150.00 million) in the quarter ended June 30, from 7.32 billion rupees a year earlier, the country's fifth-biggest private-sector lender by assets said on Wednesday. http://bit.ly/2tY8J8V

Analysts on average had expected the Mumbai-based bank to report a net profit of 9.56 billion rupees, according to Thomson Reuters data.

Gross bad loans as a percentage of total loans fell to 0.97 percent at end-June from 1.52 percent at March-end.

Yes Bank shares were trading 3 percent higher after the results in Sensex that was 0.36 percent up.

 

($1 = 64.4000 Indian rupees)

(Reporting by Tanvi Mehta in Bengaluru; Editing by Sunil Nair)