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1-min read

Yes Bank's Q2 Net Profit Declines Nearly 4 Per Cent to Rs 964.7 Crore

As per the financial results submitted by the bank to stock exchanges, Yes Bank's total income in the latest September quarter rose to Rs 8,704.68 crore from Rs 6048.78 crore in the same period a year ago.

PTI

Updated:October 25, 2018, 6:28 PM IST
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Yes Bank's Q2 Net Profit Declines Nearly 4 Per Cent to Rs 964.7 Crore
File photo. (Reuters)

Mumbai: Private sector Yes Bank on Thursday reported a decline of 3.8 per cent in net profit to Rs 964.7 crore for the second quarter ending September 2018.

The lender had posted a net profit of Rs 1,002.73 crore in the year-ago period. Recently, the Reserve Bank refused to extend the tenure of the lender's long-serving MD and CEO Rana Kapoor beyond January 31, 2019.

As per the financial results submitted by the bank to stock exchanges, Yes Bank's total income in the latest September quarter rose to Rs 8,704.68 crore from Rs 6048.78 crore in the same period a year ago.

The bank's gross Non-Performing Assets (NPA) reduced to 1.60 per cent of its total assets at the end of September. In the comparable period, the same was at 1.82 per cent.

"Net profit declined 3.8 per cent year-on-year to Rs 964.7 crore, which includes impact of Rs 252.2 crore of one-time MTM (Mark to Market) provisioning, pre-dominantly on corporate bonds.

"After excluding investment-related MTM provisions and profit on sale of investments, adjusted net profit grew by 36.2 per cent y-o-y," Yes Bank said in a release.

Shares of the bank dropped 2.77 per cent to close at Rs 198.35 on the BSE.

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