Yes Bank tumbles after reverse turnaround in Q4

Yes Bank slumped 24.85% to Rs 178.40 at 09:51 IST on BSE after the bank reported net loss of Rs 1506.64 crore in Q4 March 2019 as compared with net profit of Rs 1179.44 crore in Q4 March 2018.

The result was announced after market hours on Friday, 26 April 2019. Domestic stock markets were closed on Monday, 29 April 2019, on account of General Elections (Lok Sabha).

Meanwhile, the S&P BSE Sensex was down 291.01 points, or 0.74% to 38,776.32

On the BSE, 78.04 lakh shares were traded in the counter so far compared with average daily volumes of 29.85 lakh shares in the past two weeks. The stock had hit a high of Rs 213.70 and a low of Rs 173 so far during the day. The stock hit a 52-week high of Rs 404 on 20 August 2018. The stock hit a 52-week low of Rs 147 on 29 November 2018.

Yes Bank's total income rose 17.09% to Rs 8388.23 crore in Q4 March 2019 over Q4 March 2018. Net Provisions jumped 816.2% to Rs 3662 crore in Q4 March 2019 over Q4 March 2018.

Ravneet Gill, Managing Director and CEO of YES Bank said the bank;s robust Transaction Banking, Retail and Digital platforms will allow it to accelerate granularity of businesses.

Yes Bank is India's fourth largest private sector Bank. As on 31 March 2019, branch network stood at 1,120 branches and ATM Network stood at 1,456 which includes 596 Bunch Note Acceptors/Cash Recyclers.

Powered by Capital Market - Live News