Yes Bank Reports Surprise 80% Plunge In Quarterly Profit

But net interest margin, a key indicator of a bank's profitability, rose 10 basis points to 2.5%.

Yes Bank reported a surprise 80% plunge in quarterly profit on Saturday as provisions for bad loans increased.

Net profit fell to 515.20 million rupees ($6.36 million) for the three months through December from 2.66 billion rupees in the same period a year earlier. Analysts had expected profit to rise to 3.36 billion rupees, according to Refinitiv IBES data.

But net interest margin, a key indicator of a bank's profitability, rose 10 basis points to 2.5%.

The bank's asset quality improved as gross non-performing assets declined to 2.02% of total loans from 12.89% in the September quarter. Net non-performing assets declined to 1.03% from 3.60%.