Mumbai: Private-lender Yes Bank hit its lowest level in 52 weeks after it fell as much as 15 per cent on the BSE on Thursday, following the company’s June quarter results.
Investors distanced themselves from Yes Bank counter after the bank reported a 91 per cent fall in its profit at Rs 113.76 crore, down from Rs 1,260.36 in the comparable period last year.
The amount that a company sets aside for a known liability or “provisioning” in banking parlance surged to Rs 1,784.11 crore from Rs 625.65 crore in the June quarter last year.
Besides, the percentage of gross NPA sharply rose to 5.01 from 1.31 last year.
At 1.20 pm, Yes Bank was trading at Rs 85.30 apiece, down 13.36 per cent from its Wednesday’s close of 98.45.
Since Yes Bank’s last quarterly result, the shares have declined over 50 per cent after it reported its first-ever quarterly loss. (IANS)