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Private sector lender Yes Bank Ltd saw its July-September net profit fall as provisions rose.
The bank’s net profit for the quarter stood at Rs 152.82 crore, down 32.2% year-on-year. Analysts polled by Bloomberg estimated a Rs 384 crore net profit for the three months.
Net interest income, or core income, for the bank rose 32% from a year ago and stood at Rs 1,991 crore. Other income too rose 18% year-on-year to Rs 920 crore.
Gross non-performing asset ratio for the bank fell by 56 basis points sequentially to 12.89%. Similarly, net NPA improved to 3.6% as of September 30, compared with 4.7% as of June 30.
Provisions for the quarter rose 54% year-on-year to Rs 583 crore.
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