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YES Bank's Q3 net rises to Rs 231 cr helped by dro

YES Bank's Q3 net rises to Rs 231 cr helped by drop in loan-loss provisions India's Yes Bank said third-quarter net profit more than quadrupled, helped by a drop in loan-loss provisions and healthy growth in loans, but the result still fell short of expectations. The Mumbai-based private lender's standalone net profit rose to Rs 231 crore ($27.8 million) in the three months ended Dec 31, it said on Saturday. That was up from Rs 51.52 crore in the same period a year earlier. Analysts, on average, had expected a net profit of Rs 343 crore, according to LSEG data. YES Bank took a sharp hit on its third-quarter profit last year, as it set aside more provisions on its balance sheet after transferring bad loans to private equity firm J.C. Flowers. Its net interest income, the difference between the interest earned on loans and that paid to depositors, rose 2.33 per cent to Rs 2017 crore. ©SHIRSENDU KARMAKAR #YES_BANK
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