April 19, 2017 / 11:30 AM / 7 months ago

Yes Bank fourth-quarter profit beats estimates

REUTERS - Yes Bank Ltd on Wednesday posted higher-than-expected quarterly net profit, helped by higher interest and other income.

A security guard stands outside a closed Yes Bank branch in New Delhi, India, November 9, 2016. REUTERS/Cathal McNaughton

Yes Bank, India's fifth-biggest private sector lender by assets, reported a 30 percent rise in profit to 9.14 billion rupees ($141.56 million) in the March quarter. (bit.ly/2orLGR0)

Interest earned in the quarter rose more than 23 percent to 43.49 billion rupees while ‘other income’ rose to 12.57 billion rupees compared with 8.03 billion rupees a year earlier.

Analysts on average had expected Yes Bank to post a profit of 8.77 billion rupees, according to Thomson Reuters data.

The bank’s Q4 net interest margin stood at 3.6 percent versus 3.4 percent year ago.

($1 = 64.5650 Indian rupees)

Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Sunil Nair

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