MPAndroidChart - How to change ValueFormatter while zooming?

I am using MPAndroidChart library. I am using a CustomValueFormatter which formats the Float values such that their precision is 1.

CustomValueFormatter Code:

public class CustomYAxisValueFormatter implements YAxisValueFormatter {

    private DecimalFormat mFormat;

    public CustomYAxisValueFormatter() {
        mFormat = new DecimalFormat("###,###,###,##0.0"); // sets precision to 1
    }

    @Override
    public String getFormattedValue(float value, YAxis yAxis) {
        return mFormat.format(value);
    }
}

I am setting the formatter to y-axis.

Setting the formatter:

    YAxis yAxis = lineChart.getAxisLeft(); //show left y-axis line        
    yAxis.setValueFormatter(new CustomYAxisValueFormatter()); // set value formatter to format y-values.

As a result of setValueFormatter(YAxisValueFormatter), the above formatter (CustomYAxisValueFormatter) is created by default.

The problem is CustomYAxisValueFormatter can't be recreated upon zooming, thereby resulting in repetitive y-values.

Is it possible to create a CustomValueFormatter that changes precision of values based on the zoom level ?