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.

Updated Date: Jul 18, 2019 12:01:21 IST