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YES Bank on Tuesday reported a 32.94 per cent jump in net profit to Rs 254.09 crore for the third quarter ended December 31, 2011.
The bank had posted a net profit of Rs 191.12 crore for the corresponding year-ago period.
Total income of the lender rose to Rs 1,895.49 crore during the current quarter from Rs 1,287.82 crore in the same period last fiscal, YES Bank said in a filing to the BSE.
“I’m pleased to report that YES Bank has delivered another sustained quarter of financial performance... in the backdrop of a challenging economic environment... The increase in savings accounts rate to 7 per cent, coupled with alignment of fixed deposit rates for NRIs with domestic fixed deposit rates, are clear competitive differentiators,” said Mr Rana Kapoor, MD & CEO, YES Bank.
During the first nine months of 2011—12, the net profit of the bank rose by 34.64 per cent to Rs 705.19 crore from Rs 523.75 crore in the year—ago period.
Total income rose to Rs 5,113.02 crore during the April-December period as against Rs 3,255.64 crore in the corresponding period of 2010—11.
During the quarter, gross NPAs of the bank fell marginally to 0.20 per cent of total advances from 0.23 per cent in the year—ago period, it added.
Shares of the bank settled at Rs 318.95 apiece on the BSE today, up 4.03 per cent from their previous close.
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