Yes Bank Posts 30% Jump In Q1 Profit, Beats Analysts' Estimates

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 Rs 1,260 crore ($183.43 million) in the first quarter ended June 30, from Rs 966 crore. Analysts were expecting Rs 1,215 crore, according to Thomson Reuters I/B/E/S data which compiled data from 22 analysts. Interest earned rose 41.3 per cent to Rs 6,578 crore.

The company took a mark-to-market loss of Rs 92.67 crore 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 Rs 278 crore over the subsequent quarters.