April 26, 2018 / 9:04 AM / 3 months ago

Yes Bank fourth-quarter profit rises 29 percent

(Reuters) - India’s Yes Bank Ltd posted a 29 percent increase in fourth-quarter profit, helped by higher interest income.

The logo of Yes Bank is pictured on the facade of its headquarters in Mumbai, India January 17, 2018. Picture taken January 17, 2018. REUTERS/Danish Siddiqui

Net profit rose to 11.79 billion rupees ($176.50 million) in the quarter ended March 31, from 9.14 billion rupees a year earlier, the Mumbai-based bank said in a statement (here) on Thursday.

Analysts on average estimated profit at 10.99 billion rupees, according to Thomson Reuters data.

Gross bad loans as a percentage of total loans stood at 1.28 percent at end-March, compared with 1.72 percent in the preceding quarter and 1.52 percent in the year-ago period.

Interest income was up 32 pct.

($1 = 66.8000 Indian rupees)

A security guard stands outside a Yes Bank branch at its headquarters in Mumbai, India January 17, 2018. Picture taken January 17, 2018. REUTERS/Danish Siddiqui

Reporting by Vishal Sridhar in Bengaluru; Editing by Biju Dwarakanath

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