India Yes Bank posts Q4 profit beat on lower provisions

MUMBAI, Apr 27 (Reuters): India's Yes Bank reported a bigger-than-expected rise in net profit for the January-March quarter on Saturday, helped by a drop in loan-loss provisions and higher non-interest income.

The Mumbai-based private lender's standalone net profit more than doubled to 4.52 billion rupees ($54.2 million) for the financial fourth quarter from 2.02 billion in the same period a year earlier. That exceeded analysts' average forecast of 3.41 billion rupees, according to LSEG data.

Provisions and contingencies, or funds kept aside for potential bad loans, fell to 4.71 billion rupees from 6.18 billion.

Its gross non-performing asset ratio improved to 1.7 per cent at the end of March from 2 per cent at the end of December.