Yes Bank September quarter profit rises 47% to Rs 225 crore

Yes Bank on Saturday reported net profit of Rs 225 crore for second quarter of current financial year, marking an upside of 47 per cent from Rs 153 crore during the same period last year. The up move in profit came on the back of lower provisioning for bad loans.

Its provisions for bad loans fell around 15 per cent to Rs 500 crore from Rs 583 crore in the year ago period.

Its net interest income or difference between interest earned and paid, declined slightly from a year earlier to Rs 1,925 crore from Rs 1,991 crore.

Its gross non-performing asset (NPA) ratio was at 2 per cent at the end of September, unchanged from the end of the previous quarter.

Yes Bank shares ended 1.23 per cent higher at Rs 17.28 on Friday ahead of its earnings announcement.