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Tuesday, December 10, 2019

Yes Bank shares plunge 15 per cent after Q2 net loss; recovers most of losses later

Yes Bank on Monday plunged about 15 per cent after the company reported a consolidated net loss of Rs 629.1 crore for the September quarter. Later, it witnessed some recovery and was trading at Rs 66.20, 0.60 per cent lower on the BSE in afternoon trade.

By: PTI | New Delhi | Updated: November 4, 2019 12:36:54 pm
yes bank, yes bank shares, shares of yes bank, yes bank stock, yes bank quarterly results, yes bank september quarter results, indian express news The scrip made a weak opening and tumbled 9.98 per cent to Rs 59.95 on the BSE. At the NSE, it cracked 14.93 per cent to Rs 56.65.

Shares of Yes Bank on Monday plunged about 15 per cent after the company reported a consolidated net loss of Rs 629.1 crore for the September quarter.

The scrip made a weak opening and tumbled 9.98 per cent to Rs 59.95 on the BSE. At the NSE, it cracked 14.93 per cent to Rs 56.65.

Later, it witnessed some recovery and was trading at Rs 66.20, 0.60 per cent lower on the BSE in afternoon trade.

Yes Bank on Friday reported a consolidated net loss of Rs 629.1 crore for the September quarter due to a spurt in bad loans. The private sector lender had posted a net profit of Rs 951.47 crore in the corresponding period previous fiscal. Sequentially, there was net profit of Rs 95.56 crore in the first quarter ended June of this fiscal.

Total income (consolidated) also slipped to Rs 8,347.50 crore during July-September 2019-20, as against Rs 8,713.67 crore in the same period last year, the bank said in a regulatory filing.

Also Read | Yes Bank: Have received $1.2-bn binding offer from overseas investor

Gross bad loans jumped to 7.39 per cent of the gross advances as on September 30, 2019, from 1.60 per cent a year ago. Net NPAs or bad loans too rose to 4.35 per cent as against 0.84 per cent.

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