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Earnings

Yes Bank posts Rs 600.1 crore net loss in September quarter

Updated : November 01, 2019 05:43 PM IST

CNBC-TV18 Polls had predicted a loss of Rs 589.7 crore for the quarter under review.

In the corresponding quarter last year, the bank posted a net profit of Rs 964.70 crore.

Shares of Yes Bank ended at Rs 66.60, down Rs 3.85, or 5.46 percent on the BSE.

Private sector bank Yes Bank on Friday posted a net loss of Rs 600.1 crore during the September quarter due to one-time deferred tax asset (DTA) adjustment of Rs 709 crore on account of change in corporate tax rate regime.

CNBC-TV18 Polls had predicted a loss of Rs 589.7 crore for the quarter under review.

In the corresponding quarter last year, the bank posted a net profit of Rs 964.70 crore.

Total income (consolidated) also slipped to Rs 8,347.50 crore during July-September period of 2019-20, as against Rs 8,713.67 crore in the same period of 2018-19, the bank said in a regulatory filing.

Gross bad loans jumped to 7.39 percent of the gross advances as on September 30, 2019, from 1.60 percent a year ago. Net NPAs or bad loans too rose to 4.35 per cent as against 0.84 per cent. Provisions for bad loans and contingencies rose to Rs 1,336.25 crore as against Rs 942.53 crore earlier, the bank said.

On a standalone basis, there was a net loss of Rs 600.08 crore during the quarter. The bank had posted a net profit of Rs 964.70 crore in the second quarter of the previous fiscal.

Shares of Yes Bank ended at Rs 66.60, down Rs 3.85, or 5.46 percent on the BSE.

(With inputs from PTI)

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