Private sector lender Yes Bank on Wednesday reported 27.7 per cent rise in net profit to Rs 551.20 crore during the first quarter ended June 30, 2015-16, on higher net interest income. Bank's net profit during the April-June quarter of the previous fiscal was Rs 431.54 crore.
Its net interest margin (NIM), the key gauge of profitability, expanded to 3.3 <g data-gr-id="18">per cent</g> in the first quarter of the current fiscal, from 3 <g data-gr-id="19">per cent</g> in the year-ago period, Yes Bank said in a filing on BSE.
Net interest income of the bank rose by 42.2 per cent, year-on-year, to Rs 1,059.80 crore, it said.
Total income also increased to Rs 3,797.02 crore in the first quarter of 2015-16 as against Rs 3,093.19 crore in the same period of previous fiscal. However, bank's asset quality slipped during the period under review, with gross Non-Performing Assets (NPAs) rising to 0.46 per cent of the gross advances as against 0.33 per cent a year ago.
Similarly, net NPAs or bad loans also inched up to 0.13 <g data-gr-id="20">per cent</g>, from 0.07 <g data-gr-id="21">per cent</g> of net advances. <g data-gr-id="24">Yes</g> Bank's total advances grew by 35.1 per cent to Rs 79,665.60 crore and total deposits grew by 25.2 per cent to Rs 95,315.90 crore as on June 30, 2015.