YES Bank reports surprise 80% plunge in Q3 profit to Rs 51 cr as NPAs rise

Net profit fell to Rs 51.52 crore for the three months through December from Rs 266 crore

Yes Bank reported a surprise 80 per cent plunge in quarterly profit on Saturday as provisions for bad loans increased.

Net profit fell to Rs 51.52 crore ($6.36 million) for the three months through December from Rs 266 crore in the same period a year earlier. Analysts had expected profit to rise to Rs 336 crore, according to Refinitiv IBES data.

But net interest margin, a key indicator of a bank's profitability, rose 10 basis points to 2.5 per cent.

The bank's asset quality improved as gross non-performing assets declined to 2.02 per cent of total loans from 12.89 per cent in the