YES Bank Q1 net profit up 28% at Rs 551 crore

Mid-sized private sector lender YES Bank on Wednesday posted a jump of 27.7 per cent in its Q1 net profit  standing at Rs 551.20 crore compared with Rs.431.54 crore a year-ago due to higher net interest income and other income.

The total income on the bank increased to Rs. 37,970.20 million for the June quarter from Rs. 30,931.90 million in the corresponding quarter in the previous fiscal.

Provisions for bad loans however spiked 4 times year-on-year to Rs 98 crore during the quarter but sequentially that fell 22.5 per cent.

Gross NPA shot up 86 per cent on yearly basis to Rs 368.30 crore and net NPA rose 149.2 per cent y-o-y to Rs 106.70 crore.

The shares of the bank closed at Rs 815.70 apiece, up by 2.65 per cent at the BSE on Wednesday.