Yes Bank's Q4 net profit up 27% to Rs 702 crore

Private lender Yes Bank on Wednesday reported a 27.4% rise in its standalone net profit at Rs 702.1 crore for the fourth quarter (Q4) ended March 31, 2016.

The bank's net profit stood at Rs 551 crore in the corresponding quarter of 2014-15 fiscal.

Its total income has increased to Rs 4,331.1 crore for the quarter ended March, up 17.7%, from Rs 3,678.8 crore for the March quarter of 2015, it said in a Bombay Stock Exchange (BSE) filing.

The bank's net interest income (NII) in January-March went up by 27.1% to Rs 1,241.4 crore while non-interest income grew 36% to Rs 802.8 crore.

Yes bank's total provisioning against bad loans in the said quarter climbed 47.6% to Rs 186.5 crore as compared with Rs 126.4 crore in the same quarter of 2014-15.

On the asset quality front, the bank's net non-performing assets (NPA), or bad loans, increased to 0.29% of total advances in the March quarter, from 0.12% a year ago.

Likewise, gross NPAs grew to 0.76% in the last quarter, from 0.41% a year earlier.

For the full fiscal 2015-16, the bank posted a net profit of Rs 2,539.5 crore as against Rs 2,005.4 crore in the year-ago period.

The bank's total income during the fiscal jumped to Rs 16,245.6 crore from Rs 13,618.5 crore in the previous fiscal.

In a separate filing, Yes Bank's board recommended payment of a final dividend of Rs 10 per share.

At 11:41 hours, the shares of Yes Bank were trading down 0.28% or Rs 2.55 to Rs 908.00 per scrip on the BSE.