Private lender Yes Bank on Saturday reported a rise of 76.8 per cent year-on-year in its net profit for the third quarter of FY22.
The bank’s net profit rose to Rs 266 crore as against Rs 151 crore reported in the corresponding period of the previous fiscal.
However, the bank’s net interest income fell by 31.1 per cent for Q3FY22 to Rs 1,764 crore as against Rs 2,560 crore for Q3FY21.
According to the lender, the gross NPA ratio improved to 14.7 per cent as on December 31, 2021, as against 15.4 per cent as on December 31, 2020.
The gross NPA stood at 15 per cent as on September 30, 2021.
“‘Resolution Momentum’ continues with Rs 610 crore of cash recoveries and Rs 573 crore of upgrades during Q3FY22,” the bank said.