New Delhi. Yes Bank, one of the largest private sector banks in India, has released its September quarter results. The bank’s net profit for the quarter declined by 32 per cent to Rs 152.82 crore. The bank had made a profit of Rs 225.50 crore in the same quarter a year ago. At the same time, the net profit in the June quarter of 2022 was Rs 310.63 crore.
Increase in the income of the bank
Explaining the increase in its income, the bank said that its total income has increased to Rs 6,394.11 crore in July-September 2022 from Rs 5,430.30 crore in the same quarter last year. The bank’s performance has also improved in terms of asset quality. The bank’s NPAs or bad loans declined to 12.89 per cent from 14.97 per cent in the September quarter of 2021.
Why did the profit fall this time?
It is noteworthy that the bank has increased the provision for bad loans and other emergencies to Rs 582.81 crore from Rs 377.37 crore in the corresponding quarter of last year. Due to increase in provisioning, there has been a decrease in the profit of the bank.