Yes Bank shares crack 15% after private lender reports net profit decline of 3.8% in September quarter

New Delhi: Shares of Yes Bank on Friday cracked 15 percent after the company reported a decline of 3.8 percent in net profit for the second quarter ended 30 September, 2018.

After a weak opening, shares of the company further tanked 14.99 percent to Rs 168.60 on BSE. It later recovered most of its sharp early losses and was trading at Rs 186.55, a fall of 5.95 percent.

Representational image. Reuters

Representational image. Reuters

At NSE, shares of the company slumped 14.99 percent to Rs 168.60.

The stock was the worst hit among the blue chips on both the key indices during the morning trade.

Yes Bank on Thursday reported a decline of 3.8 percent in net profit to Rs 964.7 crore for the second quarter ended September 2018.

The private sector lender had posted a net profit of Rs 1,002.73 crore in the year-ago period.

Recently, the Reserve Bank refused to extend the tenure of the lender's long-serving MD and CEO Rana Kapoor beyond 31 January, 2019.

The bank's gross Non-Performing Assets (NPA) reduced to 1.60 percent of its total assets at the end of September. In the comparable period, the same was at 1.82 percent.

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Updated Date: Oct 26, 2018 14:35:00 IST

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