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Private sector lender Yes Bank is back in the black with a 355 per cent jump in its net profit to ₹206.84 crore in the quarter ended June 30, 2021.
The bank had reported a net loss of ₹3,787.75 crore in the quarter ended March 31, 2021 and a net profit of ₹45.44 crore in the first quarter of last fiscal.
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However, the lender’s total net income fell 2.8 per cent to ₹2,459 crore for the first quarter of this fiscal from ₹2,529 crore a year ago.
Net interest income declined by 26.5 per cent to ₹1,402 crore in the first quarter of the fiscal from ₹1,908 crore in the corresponding period last fiscal.
Net interest margin was down at 2.1 per cent on June 30, 2021 compared to 3 per cent a year ago.
Non-interest income, however, shot up by 70.3 per cent on a year-on-year basis to ₹1,056 crore in the April to June 2021 quarter.
Provisions fell by 40.7 per cent to ₹644 crore in the first quarter of the fiscal from ₹1,087 crore a year ago.
Gross non-performing assets eased to 15.6 per cent of gross advances as on June 30, 2021 from 17.3 per cent a year ago. However net NPAs rose to 5.78 per cent of net advances from 4.96 per cent as of June 30, 2020.
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