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 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.

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