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Yes Bank reports loss of Rs 1,506 cr in Q4 as provisioning rises

Interest income increased to Rs 7,856.54 crore as compared to Rs 5,742.98 crore earlier

YES Bank Photo: Reuters
YES Bank Photo: Reuters

Under a new head after the forced exit of its promoter-chief executive Rana Kapoor, Yes Bank Friday reported a whopping Rs 1,506 crore net loss for the March quarter as against a profit of Rs 1,179 crore in the year-ago period as provisions soared over nine-times. Higher provisions for possible reverses, including a massive Rs 2,100-crore contingency reserve, was the prime reason for the massive loss, the bank said. The heavy quarterly loss crimped the full year profit at Rs 1,720 crore as against Rs 4,224 crore in FY18. Had it not been for a Rs 831-crore write-back, the ...