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Yes Bank shares end nearly 4% lower; mcap dips by Rs 2,752 cr (Eds: Adding company's statement)

Press Trust of India  |  New Delhi 

of 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 During the day, it slumped 6.5 per cent to Rs 1,501.


At NSE, 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 of the company were traded on and over 78 lakh changed hands on during the day.

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 (standalone) of the 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 said in a regulatory filing.

However, the asset quality of the 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.

"The increase in NPA and consequent provision is in conformity with the divergences observed by the RBI as per its compliance process referred to in the RBI circular dated April 18, 2017 on 'Disclosure in the Notes to Accounts to the Financial Statements - Divergence in Asset Classification and Provisioning'," the company said in a statement.

"This includes one borrower with gross exposure of 0.69 per cent of gross advances (Rs 911.5 crore) and net exposure of 0.52 per cent (Rs 683.6 crore) of net advances which is expected to be recovered in near term. Specific provision held in this account is Rs 227.9 crore," it added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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