YES Bank Q1 profit rises 50.2% to Rs 311 cr on improved interest margins

YES Bank's net interest income rose by 32 per cent in Q1FY23 to Rs 1,850 crore from Rs 1,404 crore in Q1FY22

YES Bank on Saturday reported a 50.2 per cent year on year (YoY) increase in net profit at Rs 311 crore in the quarter ending June 30, 2022 (Q1FY23), on the back of improvement in interest margins and fall in provisions and contingencies.

The private sector lender had posted a net profit of Rs 207 crore during the same period last year (Q1FY22). Sequentially, its net profit declined by 15.5 per cent from Rs 367 crore in Q4FY22.

The bank’s stock had closed 2.94 per cent higher at Rs 14.71 per share on BSE on Friday.

The lender's net interest income (NII) rose