October 25, 2018 / 11:19 AM / a month ago

India's Yes Bank Q2 profit slips 3.8 pct, misses estimates

Oct 25 (Reuters) - India’s Yes Bank Ltd posted a 3.8 percent fall in second-quarter profit on Thursday, missing analysts’ estimates, as provisions for bad loans and mark-to-market losses more than doubled.

Net profit fell to 9.65 billion rupees ($131.78 million) in the quarter ended Sept. 30, from 10.03 billion rupees a year earlier, the private-sector bank said in a statement here

Fifteen analysts, on average, had expected a profit of 12.82 billion rupees, according to I/B/E/S data from Refinitiv.

Asset quality deteriorated, with gross bad loans as a percentage of total loans standing at 1.60 percent by the end of September, compared with 1.31 percent a quarter earlier and 1.82 percent a year earlier. ($1 = 73.2300 Indian rupees)

Reporting by Chris Thomas in Bengaluru; Editing by Christopher Cushing and David Evans

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