Yes, the bank's shares fall 15 pcs after the net loss of the second quarter; recover most losses later
New Delhi, November 4 () Yes Bank's shares fell approximately 15 percent on Monday after the company reported a consolidated net loss of Rs 629.1 rupees for the September quarter.
The script made a weak opening and fell 9.98 percent to Rs 59.95 in the BSE.
In the NSE, 14.93 percent were broken at Rs 56.65.
Later, he witnessed some recovery and was trading at Rs 66.20, 0.60 percent less in BSE in the afternoon trade.
Yes, the Bank reported on Friday a consolidated net loss of Rs 629.1 crore for the quarter of September due to a sudden increase in bad loans.
The private sector lender had published a net profit of Rs 951.47 rupees in the corresponding previous fiscal period. Sequentially, there was a net profit of Rs 95.56 crore in the first quarter that ended in June of this fiscal year.
Total (consolidated) income also fell to Rs 8,347.50 rupees during July-September 2019-20, compared to Rs 8,713.67 rupees in the same period last year, the bank said in a regulatory document . Gross bad loans increased to 7.39 percent of gross advances as of September 30, 2019, from 1.60 percent a year ago. Net NPAs or bad loans also increased to 4.35 percent versus 0.84 percent. SUM BAL BAL