Yes Bank Q4 net up 30.2%, shares tank 6.5% as NPAs rise
Asset quality of the bank slipped, with gross non-performing assets (NPAs) or bad loans rising to 1.52% of gross advances as on March 31, 2017, as against 0.76% a year ago.business Updated: Apr 20, 2017 13:27 IST
Shares of Yes Bank on Thursday slumped 6.5% after the company’s bad assets swelled in the March quarter.
After a weak opening, the stock further dropped 6.5% to Rs 1,501 on BSE.
At NSE, shares of the company plunged 5.28% to Rs 1,520.60.
Yes Bank yesterday reported a 30.2% rise in net profit at Rs 914.12 crore for the last quarter of 2016-17, even as its bad assets swelled.
The private sector lender had registered a standalone net profit of Rs 702.11 crore in the corresponding January-March period of 2015-16.
Total income (standalone) of the bank grew 29.4% to Rs 5,606.38 crore, against Rs 4,331.11 crore in the corresponding period a year ago, the bank said in a regulatory filing.
However, the asset quality of the bank slipped, with gross non-performing assets (NPAs) or bad loans rising to 1.52% of gross advances as on March 31, 2017, as against 0.76% a year ago.
Net NPAs rose to 0.81% of net loans disbursed from 0.29% earlier.