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YES Bank Ltd has posted a 29 per cent increase in fourth-quarter profit owing to higher interest income. Net profit rose to Rs 1,179 crore ($176.50 million) in the quarter ended March 31, from Rs 914 crore a year earlier, the Mumbai-based bank said in a statement.
Analysts on an average estimated profit at Rs 1,099 crore, 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 per cent in the preceding quarter and 1.52 per cent in the year-ago period. Interest income was up 32 per cent.
The board has recommended a dividend of Rs 2.7 per share. It has also approved raising of funds in Indian/Foreign currency through issuance of debt securities worth Rs 30,000 crore.
YES Bank shares were trading up by 6.83 per cent at Rs 347.40 on the BSE.
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