Business Standard

YES Bank tanks 30% after Rs 1,507-crore March quarter loss

The bank made total non-tax provisions of Rs 3,662 crore,, more than nine times the Rs 400 crore reported a year earlier

YES Bank
Premium

SI Reporter Mumbai
YES Bank shares tanked 30 per cent to Rs 167 on the National Stock Exchange (NSE) on Tuesday after the bank reported a whopping Rs 1,506 crore net loss for the March quarter (Q4FY19) as provisions soared over nine times. The private sector bank posted its first-ever quarterly loss during the quarter. It had posted a profit of Rs 1,179 crore in the year-ago period.

YES Bank recorded its sharpest single day fall since listing on July 12, 2005. Investors lost Rs 16,316 crore in terms of market capitalisation after a sharp fall in stock price today.

The

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Apr 30 2019 | 9:20 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com