Yes Bank Q3 net profit decline by 7%

Mumbai: Yes Bank on Thursday reported a 7 percent decline in its net profit for the third quarter of the financial year 2018-19.

According to the private lender, its Q3 net profit declined to Rs 1,001.85 crore from Rs 1,076.87 crore reported for the corresponding period of the previous financial year.

The bank, however, reported a total income of Rs 8,849.81 crore during the period under review, 36 percent higher than Rs 6,492.56 crore earned during the October-December quarter of FY 2017-18.

“Gross Non-Performing Asset (GNPA) at 2.10 percent, Net Non-Performing Assets (NNPA) at 1.18 percent and Provisioning Coverage Ratio (PCR) at 44.2 percent. Excluding the extraordinary impact of aggregate exposure to a stressed infrastructure conglomerate, GNPA improved sequentially to 1.32 percent from 1.60 percent last quarter, NNPA improved to 0.59 percent from 0.84 percent last quarter and PCR improved to 55.6 percent from 47.8 percent,” Yes Bank said in a statement.

Yes Bank MD and CEO Rana Kapoor said in the statement: “Yes Bank has once again delivered satisfactory performance across income growth, margins, profitability, and Capital accretion, despite the recognition and provision impact from a stressed Infrastructure conglomerate.

“Retail Assets growth momentum continues, while growth in Corporate business segments has been rebalanced after witnessing strong market share driven growth over the last few preceding quarters.”