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Yes Bank Second-quarter Profit Slips 3.8%, Misses Estimates

Net profit fell to Rs 9.65 billion in the quarter ended 30 September, from Rs 10.03 billion a year earlier

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India's Yes Bank posted a 3.8 percent fall in second-quarter profit on Thursday, missing analysts' estimates, as provisions for bad loans and mark-to-market losses more than doubled.

Net profit fell to Rs 9.65 billion ($131.78 million) in the quarter ended September 30, from Rs 10.03 billion a year earlier, the private-sector bank said in a statement.

Fifteen analysts, on average, had expected a profit of Rs 12.82 billion, according to I/B/E/S data from Refinitiv.

Asset quality deteriorated, with gross bad loans as a percentage of total loans standing at 1.60 percent by the end of September, compared with 1.31 per cent a quarter earlier and 1.82 per cent a year earlier.

(Reuters)


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