Yes Bank First-Quarter Profit Beats On Higher Interest Income
India's Yes Bank Ltd beat analysts' estimates for quarterly profit on Thursday, helped by higher interest income and growth in its corporate banking division.
Net profit rose to 12.60 billion rupees ($183.43 million) in the first quarter ended June 30, from 9.66 billion rupees.
Analysts were expecting 12.15 billion rupees, according to Thomson Reuters I/B/E/S data which compiled data from 22 analysts.
Interest earned rose 41.3 percent to 65.78 billion rupees.
The company took a mark-to-market loss of 926.7 million rupees in the quarter, it said, relating to bond-trading losses incurred in December 2017 and March 2018 quarters as a result of spike in bond yields in the recent months.
It said it will spread 2.78 billion rupees over the subsequent quarters.
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