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Yes Bank shares recover most of early losses, close over 1 pc lower

Press Trust of India  |  New Delhi 

After plunging 15 per cent during the day, shares of Yes Bank on Monday recovered most of its early losses and closed over 1 per cent lower after the company reported a consolidated net loss of Rs 629.1 crore for the September quarter.

The scrip tanked 9.98 per cent to Rs 59.95 during the day on the BSE. It later closed at Rs 66.10, down 0.75 per cent.

On the NSE, shares of the lender closed 1.20 per cent lower at Rs 65.80 apiece. During the trade, it dropped 14.93 per cent to Rs 56.65.

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 previous fiscal. Sequentially, there was a net profit of Rs 95.56 crore in the first quarter of this fiscal.

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

Gross bad loans jumped to 7.39 per cent of the gross advances as on September 30, 2019, from 1.60 per cent a year ago. Net NPAs or bad loans too rose to 4.35 per cent as against 0.84 per cent.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 04 2019. 20:00 IST