New Delhi, Jan 25 (PTI) Yes Bank on Saturday reported nearly threefold jump in net profit to Rs 612 crore for the third quarter ended December 2024 helped by a fall in provisions for bad loans.
The private sector bank had earned a net profit of Rs 231 crore in the same quarter of previous financial year.
Total income increased to Rs 9,341 crore during the third quarter of the ongoing fiscal from Rs 8,179 crore a year ago, Yes Bank said in a regulatory filing.
Interest income increased to Rs 7,829 crore from Rs 6,984 crore. Net interest income grew 10 per cent to Rs 2,224 crore as against Rs 2,017 crore in the third quarter last fiscal year.
Net Interest Margin (NIM) of the bank remained flat at 2.4 per cent. Operating profit rose to Rs 1,079 crore from Rs 864 crore.
On the asset quality front, the bank’s gross non-performing assets ratio improved to 1.6 per cent against 2 per cent a year ago.
Similarly, net NPAs, or bad loans, came down to 0.5 per cent from 0.9 per cent at the end of the third quarter last fiscal year.
As a result, overall provisions, excluding tax halved to Rs 259 crore from Rs 555 crore in the same quarter a year ago.
Provision Coverage Ratio of the bank stood at 71.2 per cent at the end of December 2024 quarter.
Average quarterly Liquidity Coverage Ratio (LCR) on consolidated basis during the quarter remained healthy at 133.2 per cent.
Capital Adequacy Ratio declined to 15.2 per cent from 16 per cent at the end of third quarter of previous financial year.
