Yes Bank Q1 net profit slumps over 92 pc to Rs 96 cr

Private sector Yes Bank Wednesday reported a slump of over 92.4 per cent in its consolidated net profit to Rs 95.56 crore in the first quarter ended June this fiscal.

The bank had reported a net profit of Rs 1,265.67 crore in the April-June quarter of the previous fiscal ended March 2018.

Sequentially, the private sector lender had posted first ever loss of Rs 1,508.44 crore in the quarter ended March, 2019 due to mounting bad loans.

Total income (consolidated) increased to Rs 9,105.79 crore in three months to June of 2019-20, up from Rs 8,301.06 crore in the same quarter of 2018-19, the bank said in regulatory filing.

On standalone basis, the bank's net profit stood at Rs 113.76 crore in April-June period this fiscal, down by 91 per cent from Rs 1,260.36 crore a year ago.

Income (standalone) increased to Rs 9,088.80 crore during the first quarter, as against Rs 8,272.18 crore in the same period previous fiscal.

In terms of asset quality, the gross non-performing assets (NPAs) of the bank swelled to 5.01 per cent of the gross advances at June-end this year, compared to 1.31 per cent in June 2018.

The net NPAs rose to 2.91 per cent from 0.59 per cent a year ago.

In value terms, the gross NPAs or bad loans were at Rs 12,091.10 crore at June-end this year, up from Rs 2,824.46 crore. The net NPAs stood at Rs 6,883.27 crore, compared to Rs 1,262.57 crore.

Stock of Yes Bank closed at Rs 98.45 on BSE, down 5.25 per cent from previous close.