Yes, the Bank records a net loss of Rs 600 million in the second quarter; Gross NPA increases to 7.39%
NEW DELHI: private sector lender Yes bank On Friday it reported a net loss of Rs 600 Rs, independently, for the second quarter that ended on September 30, due to a sudden increase in bad loans. The bank had published a net profit of Rs 113.76 crore in the first quarter.
The lender's gross NPAs (non-profitable assets) or bad loans grew sharply to 7.39 percent in the second quarter from 5.01 percent published in the previous quarter (Q1), which ended June 30. Its gross NPA percentage in the second quarter of last year was 1.60 percent
Net NPAs also increased from 2.91 percent in the first quarter to 4.35 percent in the second quarter.
Total revenues also fell 4.27 percent to Rs 8,332.20 rupees from Rs 8,704.68 rupees recorded during the same period last year. He had reported a total income of Rs 9,088.80 crore in the quarter from April to June.
Yes bank shares slumped 3.85 points or 5.46 per cent to close at Rs 66.60 on the BSE. While, it fell 4.30 points or 6.11 per cent to finish at Rs 66.10 on the NSE.