YES Bank's Q2 net profit rises 74% to Rs 226 cr, asset quality improves

Private lender YES Bank on Friday reported 74% jump in net profit at Rs 226 crore for the quarter ending September 2021. It was Rs 129 crore in the year-go period. 

Net interest income declined 23% to Rs 1,512 crore as against Rs 1,973 crore a year ago. 

Total income slipped to Rs 5,430.30 crore during the July-September period from Rs 5,842.81 crore in the same quarter last year, the bank said in regulatory filing.

Gross bad loans declined to 14.9 per cent of gross advances as on September 30. The same stood at 16.9 per cent in the year-ago period and 15.6 per cent a quarter ago

Net Non-Performing Assets (NPAs) or bad loans declined to 5.55 per cent in the quarter under review as compared to 5.78% in June quarter. 

The bank has made prudent provisioning of Rs 336 crore on a single telecom exposure in the latest quarter. On Friday at 2:05 pm, YES Bank's scrip on NSE was trading nearly 4% lower at Rs 13.75.