Yes Bank shares crack 15% after Q2 results

Yes Bank shares crack 15% after Q2 results

Shares of Yes Bank Friday cracked 15 per cent after the company reported a decline of 3.8 per cent in net profit for the second quarter ended September 30, 2018.

After a weak opening, shares of the company further tanked 14.99 per cent to Rs 168.60 on BSE. It later recovered most of its sharp early losses and was trading at Rs 186.55, a fall of 5.95 per cent.

At NSE, shares of the company slumped 14.99 per cent to Rs 168.60.
The stock was the worst hit among the blue chips on both the key indices during the morning trade.

Yes Bank on Thursday reported a decline of 3.8 per cent 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 per cent of its total assets at the end of September. In the comparable period, the same was at 1.82 per cent.

Private sector Yes Bank on Thursday reported a decline of 3.8 per cent in net profit to Rs 964.7 crore for the second quarter ending September 2018.

The 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.

As per the financial results submitted by the bank to stock exchanges, Yes Bank’s total income in the latest September quarter rose to Rs 8,704.68 crore from Rs 6048.78 crore in the same period a year ago.

The bank’s gross Non-Performing Assets (NPA) reduced to 1.60 per cent of its total assets at the end of September. In the comparable period, the same was at 1.82 per cent.

“Net profit declined 3.8 per cent year-on-year to Rs 964.7 crore, which includes impact of Rs 252.2 crore of one-time MTM (Mark to Market) provisioning, pre-dominantly on corporate bonds.

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