For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Yes Bank Reports Q2 Loss Of Rs 600 Crore On One-Time Tax Adjustment

By Staff
|

For the second quarter of 2019-20, Yes Bank posted a loss of Rs 600 crore on Friday due to higher provisions, lower income and primarily from a one-time deferred tax asset (DTA) adjustment of Rs 709 crore. In the same period of the previous year, the private bank had posted a profit of Rs 965 crore.

Yes Bank Reports Q2 Loss Of Rs 600 Crore On One-Time Tax Adjustment
YES Bank: Quotes, News
BSE 68.75BSE Quote0.5 (0.73%)
NSE 68.75NSE Quote0.55 (0.80%)
 

If the one-time tax burden were to be excluded, the lender would have reportedly made a profit of Rs 122 crore, considering the 42 percent increase in provisions for the September-ended quarter at Rs 1,336.25 crore. The net profit would have been 91 percent lower than the same period of the previous year.

Further, the bank's operating performance was weaker than the second quarter of 2018-19. It reported a 38 percent year-on-year fall in operating profit at Rs 1,458 crore in the quarter under review.

Yes Bank's net interest income (NII) for the quarter was down by 9.6 percent at Rs 2,186 crore from a year ago with net interest margin (NIM), a key measure of its profitability, down by 60 basis points to 2.7 percent from the previous year.

Its asset quality deteriorated with an increase in gross NPAs (non-performing assets) to 7.39 percent of total loans up from 1.6 percent in the last year.

Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more