YES Bank posts net loss of Rs 629 cr in Sept quarter as bad loans spike

Yes Bank on Friday reported a consolidated net loss of Rs 629.1 crore for the September quarter due to a spurt in bad loans.

The private sector lender had posted a net profit of Rs 951.47 crore in the corresponding period of the previous fiscal. Sequentially, there was net profit of Rs 95.56 crore in the first quarter ended June of this fiscal.

Total income (consolidated) also slipped to Rs 8,347.50 crore during July-September period of 2019-20, as against Rs 8,713.67 crore in the same period of 2018-19, the bank said in a regulatory filing.

Gross bad loans jumped to