Yes Bank Fourth-quarter Profit Rises 29 Percent

India's Yes Bank posted a 29 per cent increase in fourth-quarter profit, helped by higher interest income.

Net profit rose to Rs 11.79 billion ($176.50 million) in the quarter ended March 31, from Rs 9.14 billion a year earlier, the Mumbai-based bank said in a statement on Thursday.

Analysts on average estimated profit at Rs 10.99 billion, according to Thomson Reuters data.

Gross bad loans as a percentage of total loans stood at 1.28 per cent at end-March, compared with 1.72 percent in the preceding quarter and 1.52 per cent in the year-ago period.

Interest income was up 32 per cent.