Yes Bank shares plunge 9% to Rs 180; market-cap drops Rs 4,076 cr post-Q2 results

New Delhi: Shares of Yes Bank on Friday ended sharply lower by almost 9 percent after the company reported a decline of 3.8 percent in net profit for the second quarter ended September 2018.

The stock plummeted 8.97 percent to close at Rs 180.55 on the BSE. Intra-day, it cracked 14.99 percent to Rs 168.60.

On the NSE, Yes Bank shares slumped 8.64 percent to end at Rs 181.20.

Representational image. Reuters

Representational image. Reuters

Its stock was the worst hit among the blue chips on both the key indices during the day.

Led by sharp fall in the stock price, the company's market valuation dropped Rs 4,076.02 crore to Rs 41,727.98 crore on the BSE.

In terms of equity volume, 84.45 lakh shares of the company were traded on the BSE and over 9 crore shares changed hands on the NSE during the day.

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 January 31, 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 16:51:10 IST

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