Yes Bank’s December Quarter Profit Rises 77% To Rs 266 Crore

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Yes Bank's December Quarter Profit Rises 77% To Rs 266 Crore

Yes Bank’s third quarter revenue has proven wholesome progress

New Delhi: Yes Bank on Saturday reported a 77 per cent rise in revenue to Rs 266.43 crore for the third quarter ended December 2021. It had recorded a revenue of Rs 150.77 crore within the corresponding interval of final 12 months.

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At the identical time nevertheless, the personal lender’s complete earnings through the quarter beneath assessment declined to Rs 5,632.03 crore from Rs 6,408.53 crore within the corresponding interval of final 12 months, Yes Bank mentioned in a regulatory submitting.

Net curiosity earnings additionally slipped by 31 per cent to Rs 1,764 crore as in comparison with Rs 2,560 crore in the identical quarter a 12 months in the past.

The financial institution’s gross non-performing property (GNPAs) as a proportion of property eased to 14.65 per cent through the quarter from 15.36 per cent within the year-ago interval.

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On the opposite hand, web NPAs elevated to five.29 per cent as towards 4.04 per cent on the finish of the third quarter earlier fiscal.

Provisions aside from tax and contingencies got here down considerably to Rs 374.64 crore from Rs 2,089 crore.

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“On November 1, 2021, the bank had completed the sale of its entire stake in its wholly owned subsidiaries YES Asset Management (India) Limited and YES Trustee Limited to CPL Finance and Investments Limited. The net positive impact to the financial results post this sale, including reversal of the impairment provision was Rs 14.94 crore,” it mentioned.

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