 "YES Bank")
Yes Bank shares on Monday ended more than 3 per cent lower due to higher provisions numbers which curtailed its net profit growth to 10 per cent in the June quarter.
Yes Bank shares declined 3.65 per cent to close at Rs 17.40 apiece on the BSE.
Click here to connect with us on WhatsApp
A similar movement was also seen on the NSE, where the stock witnessed heavy sell-off pressure at higher levels in the early trade and tanked 3.60 per cent to settle at Rs 17.40 per share.
During the day, the stock witnessed a high of Rs 18.45 per piece on the exchange.
In volume terms, 27.46 crore equity shares were traded on the NSE, while 4.59 crore shares were traded on the BSE.
On Monday, the 30-share BSE Sensex settled 299.48 points or 0.45 per cent lower at 66,384.78 points.
SBI-controlled Yes Bank has reported around two-fold rise in provisions for bad loans to Rs 360 crore in the June quarter as a large real estate borrower with Rs 400 crore dues became a dud loan during the quarter. This was because fresh slippages jumped to Rs 1,430 crore from Rs 1,072 crore.
It posted a 10 per cent rise in net profit to Rs 343 crore in the June 2023 quarter.
The Mumbai-based private sector lender had posted a net profit of Rs 311 crore in the year-ago period. Its total income in the first quarter of the current fiscal rose to Rs 7,584 crore from Rs 5,876 crore a year ago, the company said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
