Yes Bank shares plummet nearly 20% on 92% drop in net profit, sharp rise in bad loans in Q1

Shares of Yes Bank plummeted nearly 20 percent on Thursday after the company reported a slump of 92.4 percent in consolidated net profit in the first quarter ended June this fiscal

Press Trust of India July 18, 2019 11:55:15 IST
Yes Bank shares plummet nearly 20% on 92% drop in net profit, sharp rise in bad loans in Q1
  • On the NSE, Yes Bank shares cracked 19.56 percent to hit a one-year low of Rs 79.15

  • It was the worst hit among the frontline companies on both the key indices during morning trade

  • The private sector lender reported a slump of 92.4 percent in its consolidated net profit to Rs 95.56 crore in the first quarter ended June this fiscal

New Delhi: Shares of Yes Bank plummeted nearly 20 percent on Thursday after the company reported a slump of 92.4 percent in consolidated net profit in the first quarter ended June this fiscal.

The scrip dropped 14.98 percent to Rs 83.70 -- its 52-week low -- on the BSE.

On the NSE, shares cracked 19.56 percent to hit a one-year low of Rs 79.15.

It was the worst hit among the frontline companies on both the key indices during morning trade.

Yes Bank shares plummet nearly 20 on 92 drop in net profit sharp rise in bad loans in Q1

Representational image. Reuters.

After market hours on Wednesday, the private sector lender reported a slump of 92.4 percent in its consolidated net profit to Rs 95.56 crore in the first quarter ended June this fiscal.

The bank had reported a net profit of Rs 1,265.67 crore in the April-June quarter of the previous fiscal ended March 2018.

Total income (consolidated) increased to Rs 9,105.79 crore in three months to June of 2019-20, up from Rs 8,301.06 crore in the same quarter of 2018-19, the bank said in a regulatory filing.

On a standalone basis, the bank's net profit stood at Rs 113.76 crore in April-June period this fiscal, down by 91 percent from Rs 1,260.36 crore a year ago.

In terms of asset quality, the gross non-performing assets (NPAs) of the bank swelled to 5.01 percent of the gross advances at June-end this year, compared to 1.31 percent in June 2018.

The net NPAs rose to 2.91 percent from 0.59 percent a year ago.

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