Earnings: Yes Bank Q3 profit up 30% on higher interest income

New Delhi: Private sector lender Yes Bank’s standalone net profit rose 30 per cent to Rs 540.29 crore in the third quarter ended December 31 on higher interest income. The bank had posted a net profit of Rs 415.60 crore in the corresponding October-December quarter of 2013-14. “Total income has increased from Rs 2,902 crore for the quarter ended December 31, 2013 to Rs 3,508.47 crore for the quarter ended December 31, 2014,” it said in a filing to the BSE. The interest earned rose to Rs 2,971.66 crore during the October-December period of 2014-15, up from Rs 2,514.12 crore a year ago. Bank’s income on investments increased to Rs 888.74 crore in the third quarter, from Rs 840.02 crore in the year-ago period. However, the non-performing assets (NPAs) were sightly up with the gross bad loans as a percentage of advances rising to 0.42 percent from 0.39 percent a year ago. The net NPAs inched up to 0.10 per cent in Q3 FY15 from 0.08 per cent in the corresponding period a year earlier. Yes Bank shares closed 0.63 percent up at Rs 786.80 per share.