Yes Bank missed estimates when net profits for the September quarter dropped nearly 4 per cent as provisions climbed.

Net profits of the private sector lender came in at Rs 964.7 crore compared with Rs 1002.73 crore a year ago.

Analysts had expected the bank to report profits of around Rs 1,100 crore.

Provisions rose to almost Rs 940 crore from Rs 626 crore in the preceding quarter and Rs 447 crore in the year-ago period.

Yes Bank said the drop in net profit includes the impact of Rs 252.2 crore in one time mark-to-market (MTM) provisioning, largely on corporate bonds.

It added that if one were to exclude the investment related MTM provisions and profit on sale of investments, the adjusted net profit would show a growth of 36.2 per cent over the same period last year.

On the asset quality front, the gross non-performing assets came in at Rs 3,866 crore against Rs 2,824.46 crore a year ago.