Yes Bank Q4 profit rises 29%, recommends dividend of Rs 2.7 per share

Yes Bank’s net profit rose to Rs 1179 crore ($176.50 million) in the quarter ended March 31, from Rs 914 crore a year earlier, the Mumbai-based bank said in a statement

Private sector Yes Bank Ltd posted a 29% increase in fourth-quarter profit, helped by higher interest income.

Net profit rose to Rs 1179 crore ($176.50 million) in the quarter ended March 31, from Rs 914 crore a year earlier, the Mumbai-based bank said in a statement .

Analysts on average estimated profit at Rs 1099 crore, according to Thomson Reuters data.

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

Interest income was up 32%.

Yes Bank shares were trading up 4.72% or Rs 15.40 higher at Rs 340.65 at 2.22 pm on the National Stock Exchange (NSE).