Yes Bank Q1 net profit up 32% to ₹965.5 cr

MUMBAI: Private sector lender Yes Bank Ltd on Wednesday said its June quarter net profit rose 31.94% to ₹965.52 crore from ₹731.80 crore a year ago on higher income. The bank’s board also cleared a stock split in the ratio of 1:5. Profit was higher than the ₹948.4 crore estimated by a Bloomberg. Gross NPAs as a percentage of total advances stood at 0.97% in the quarter, against 0.79% in the last quarter. The bank raised provisions during the quarter to ₹285.78 crore, against ₹206.63 crore a year ago, an increase of 38.31%.