Yes Bank s standalone Q4 net profit up 30%

Mumbai April 19 (IANS) Private sector lender Yes Bank on Wednesday reported a rise of 30.2 per cent in its net profit for the fourth quarter (Q4) of 2016-17.

The company s net profit rose to Rs 914.1 crore from Rs 702.1 crore reported for the corresponding quarter of 2015-16.

According to the company its total net income for the quarter under review increased by 41.7 per cent to Rs 2 897.1 crore from Rs 2 044.2 crore earned during the fourth quarter of 2015-16.

The private lender s net interest income (NII) during the fourth quarter stood at Rs 1 639.7 crore up by 32.1 per cent from Rs 1 241.4 crore.

NIM expanded to 3.6 per cent for Q4FY17 from 3.5 per cent in Q3FY17 the company said in a statement.

Besides the company reported an increase of 31.1 per cent in its standalone net profit for the entire financial year 2016-17 to Rs 3 330.1 crore from Rs 2 539.4 crore in 2015-16.

In addition Yes Bank s total net income for the financial year under review increased by 36.8 per cent to Rs 9 954.1 crore from Rs 7 278.9 crore earned during 2015-16.

The company pointed out that its Board of Directors has recommended a dividend of Rs 12 per share which is subject to shareholders approval.

--IANS
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