Shares of Yes Bank today tanked over 7 per cent as the company’s bad loan situation worsened during the second quarter of 2017-18 fiscal.
The company’s scrip plunged 7.39 per cent to settle at Rs 307.20 on the BSE. During the day, it dropped 9.85 per cent to Rs 299.
On the NSE, shares of the company plummeted 7.29 per cent to close at Rs 307.05.
The company’s market valuation fell by Rs 5,611.71 crore to Rs 70,370.29 crore.
In terms of equity volume, 51.27 lakh shares of the company were traded on the BSE and over 8 crore shares changed hands on the NSE during the day.
The private sector lender yesterday reported a net profit of Rs 1,002.73 crore in the second quarter, up about 25 per cent year-on-year.
The bank’s net profit was at Rs 801.54 crore in the same quarter a year ago.
In a regulatory filing, it said the net interest income increased to Rs 1,885.1 crore in the July-September quarter of the fiscal.
Its bad loan situation deteriorated as the gross non— performing assets (GNPAs) grew to Rs 2,720.34 crore (1.82 per cent) during the second quarter of 2017—18 from Rs 916.68 crore (0.83 per cent) in the corresponding period last year.
Net NPAs also rose to 1.04 per cent of assets as of September 2017—end as compared to 0.29 per cent in the comparable period of 2016—17.