Yes Bank reported a net profit of Rs 367 crore for the March quarter on Saturday, compared to a loss of Rs 3,788 crore in the same quarter last year. The profit figure was up 37.9% year on year from Rs 266 crore in the previous quarter.

The private lender reported an 84.4 percent year-on-year (YoY) increase in net interest income (NII) to Rs 1,819 crore from Rs 987 crore in the same quarter last year. 

Non-interest income increased by 27.9% year on year to Rs 882 crore from Rs 689 crore, according to the bank.

The bank made provisions totaling Rs 271 crore for the quarter, a decrease of 27.7% from the December quarter's Rs 375 crore and a decrease of 94.7 percent from the year-ago quarter's Rs 5,113 crore.

Net interest margin (NIM) increased to 2.5 percent in the March quarter, up from 2.4 percent in the previous quarter and 1.6 percent in the previous year.

The private bank's net NPA ratio fell 76 basis points in the third quarter of FY22, to 4.53 percent.

Over the past two years, YES Bank's transformation path has resulted in sustained improvement in balance sheet growth, increased granularisation, increasing asset quality trends, enhanced liquidity, and a stronger capital position, according to MD & CEO Prashant Kumar.

"While the core operating profitability of the franchise continues to improve, the drag from legacy stressed assets has significantly reduced, resulting into net profitability. The bank continues to invest in its digital infrastructure in its quest to retain its dominant place in the country’s digital payments and fintech ecosystem," he said.