Yes Bank reported a 349 per cent rise in its net profits for the quarter ended December 31 on lower provisions. The private sector lender posted a standalone profit of Rs 231.46 crore compared with Rs 51.52 crore in the year-ago period.
The jump in its bottomline came as provisions dropped to Rs 554.74 crore from Rs 844.75 crore a year ago. Net interest income (NII) rose to Rs 2,017 crore from Rs 1,971 crore a year ago.
Asset quality was stable with the percentage of gross non-performing assets (NPAs) standing at 2 per cent, which was the same as in the preceding three months. In absolute terms, gross NPAs stood at Rs 4,457.41 crore compared with Rs 3,903.68 crore in the year-ago quarter.
Net advances at Rs 2,17,523 crore registered a growth of 11.8 per cent over the previous year. The proportion of retail & SME loans stood at 63 per cent against 58 per cent a year ago.
