MUMBAI (Reuters) – India’s Yes Bank on Saturday said its fourth-quarter net profit more than doubled on a year-on-year basis as loan-loss provisions dropped.
The Mumbai-based private lender’s standalone net profit increased to 4.52 billion rupees ($54.20 million) in the three months ended on March 31, from 2.02 billion rupees in the same period a year earlier.
Analysts, on average, had expected a net profit of 3.41 billion rupees, according to LSEG data.
($1 = 83.4000 Indian rupees)
(Reporting by Siddhi Nayak; Editing by Tom Hogue)
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