Yes Bank shares tank nearly 10% after Q2 earnings

Shares of Yes Bank today tanked

nearly 10 per cent as the company's bad loan situation

worsened during the second quarter of 2017-18 fiscal.

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After opening the day on a weak note, the stock further

tumbled 9.85 per cent to Rs 299 on BSE.

At NSE, shares of the company slumped 9.85 per cent to Rs

298.55.

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.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)