India's Yes Bank Q3 profit surges but falls short of estimates

NEW DELHI (Reuters) - India's Yes Bank said third-quarter net profit more than quadrupled, helped by a drop in loan-loss provisions and healthy growth in loans, but the result still fell short of expectations.

The Mumbai-based private lender's standalone net profit rose to 2.31 billion rupees ($27.8 million) in the three months ended Dec. 31, it said on Saturday. That was up from 515.20 million rupees in the same period a year earlier.

Analysts, on average, had expected a net profit of 3.43 billion rupees, according to LSEG data.

Provisions and contingencies fell to 5.55 billion rupees from 8.45 billion rupees a year earlier.

($1 = 83.1150 Indian rupees)

(Reporting by Siddhi Nayak and Manoj Kumar; Editing by Edwina Gibbs)