Business

Yes Bank shares tumble over 13 pc after Q4 earnings

Shares of Yes Bank on Monday declined over 13 per cent after the company reported a loss of Rs 3,790 crore on a consolidated basis for the March quarter.

migrator

Updated:3rd May, 2021 at 12:56 PM

New Delhi

The stock tumbled 13.40 per cent to Rs 12.60 on BSE.

On NSE, it declined 11.68 per cent to Rs 12.85.

Yes Bank on Friday reported a Rs 3,790 crore loss on a consolidated basis for the March quarter, as against a profit of Rs 2,665 crore in the year-ago period, as the asset quality reverses faced due to the COVID-19 pandemic forced the bank to set aside money for potential loan losses.

The bank, which had to be bailed out in a SBI-led rescue a year ago, narrowed its losses in FY21 to Rs 3,488 crore as against Rs 16,432 crore in FY20.

On a standalone basis, it reported a loss of Rs 3,787 crore in the March quarter as against a Rs 2,628 crore net profit in the year-ago period.

Yes Bank shares tumble over 13 pc after Q4 earnings

Shares of Yes Bank on Monday declined over 13 per cent after the company reported a loss of Rs 3,790 crore on a consolidated basis for the March quarter.

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