REUTERS - Yes Bank (YESB.NS), India’s fifth-biggest private-sector lender by assets, posted a lower-than-expected 25 percent increase in second-quarter profit, as bad loans rose.
Net profit rose to 10.03 billion rupees ($154.72 million) in the quarter ended Sept. 30, from 8.02 billion rupees a year earlier, the Mumbai-based bank said on Thursday. bit.ly/2yLfHo5
Analysts on average estimated profit at 10.27 billion rupees, according to Thomson Reuters data.
Gross bad loans as a percentage of total loans stood at 1.82 percent at end-Sept, compared with 0.97 percent a quarter earlier and 0.83 percent in the year-ago period.
($1 = 64.8250 Indian rupees)
Reporting by Samantha Kareen Nair and Aby Jose Koilparambil in Bengaluru; Editing by Sunil Nair and Biju Dwarakanath
