Yes bank Q1 net up 84 pc

Private sector lender Yes Bank on Tuesday posted a net profit of Rs 100.07 crore for the first quarter ended June 30, 2009, which is effectively an increase of 84 per cent from Rs 54.3 crore reported in the corresponding quarter last fiscal.

Total income  jumped 41.5 per cent to Rs 687.85 crore for the June-end quarter of the current fiscal against Rs 486.19 crore in the same quarter of 2008-09. The bank’s Board of Directors also approved the fund raising up to $250 million by way of issuance of equity capital in one or more tranches. The issuance may be by way of QIP, Preferential Allotment or by any other appropriate mode. During the quarter under review, net interest income (NII) for the Q1 FY10 was up 45 per cent to Rs 163.7 crore as compared to Rs 113 crore for the Q1 FY09.

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