Yes Bank shares plunge 15% after lender posts net loss of Rs 629 cr in Q2; stock recovers early losses

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

Press Trust of India November 04, 2019 12:36:03 IST
Yes Bank shares plunge 15% after lender posts net loss of Rs 629 cr in Q2; stock recovers early losses
  • The Yes Bank shares made a weak opening and tumbled 9.98 percent to Rs 59.95 on the BSE

  • At the NSE, it cracked 14.93 percent to Rs 56.65

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

New Delhi: Shares of Yes Bank on Monday plunged about 15 percent 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 percent to Rs 59.95 on the BSE.

At the NSE, it cracked 14.93 percent to Rs 56.65.

Later, it witnessed some recovery and was trading at Rs 66.20, 0.60 percent 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.

Yes Bank shares plunge 15 after lender posts net loss of Rs 629 cr in Q2 stock recovers early losses

Representational image. Reuters.

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.

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

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