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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.
By
migrator
migrator
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.
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