Shares of Yes Bank ended nearly 4 per cent lower today, wiping-out Rs 2,752 crore from its market valuation after the company's non-performing assets assets swelled in the March quarter.
The stock declined by 3.76 per cent to end at Rs 1,545.10 on BSE. During the day, it slumped 6.5 per cent to Rs 1,501.
At NSE, shares of the company slipped 3.75 per cent to close the day at Rs 1,545.15.
Consequently, the company's market valuation fell by Rs 2,752.38 crore to Rs 70,531.62 crore.
On the volume front, 6 lakh shares of the company were traded on BSE and over 78 lakh shares changed hands on NSE during the day.
Yes Bank yesterday reported a 30.2 per cent rise in net profit at Rs 914.12 crore for the last quarter of 2016-17, even as its bad assets swelled.
The private sector lender had registered a standalone net profit of Rs 702.11 crore in the corresponding January-March period of 2015-16.
Total income (standalone) of the bank grew 29.4 per cent to Rs 5,606.38 crore compared to Rs 4,331.11 crore in the corresponding period a year ago, the bank said in a regulatory filing.
However, the asset quality of the bank slipped, with gross non-performing assets (NPAs) or bad loans rising to 1.52 per cent of gross advances as on March 31, 2017, as against 0.76 per cent a year ago.
Net NPAs rose to 0.81 per cent of net loans disbursed from 0.29 per cent earlier.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)