July 26, 2018 / 8:52 AM / 5 months ago

India's Yes Bank Q1 profit beats on higher interest income

July 26 (Reuters) - India’s Yes Bank Ltd beat analysts’ estimates for quarterly profit on Thursday, helped by higher interest income and growth in its corporate banking division.

Net profit rose to 12.60 billion rupees ($183.43 million) in the first quarter ended June 30, from 9.66 billion rupees. bit.ly/2JWzUZU

Analysts were expecting 12.15 billion rupees, according to Thomson Reuters I/B/E/S data which compiled data from 22 analysts.

Interest earned rose 41.3 percent to 65.78 billion rupees.

The company took a mark-to-market loss of 926.7 million rupees in the quarter, it said, relating to bond-trading losses incurred in December 2017 and March 2018 quarters as a result of spike in bond yields in the recent months.

It said it will spread 2.78 billion rupees over the subsequent quarters. ($1 = 68.6900 Indian rupees) (Reporting By Aparajita Saxena in Bengaluru; Editing by Vyas Mohan)

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