Shares of Yes Bank today slumped 6.5 per cent after the company’s bad assets swelled in the March quarter. After a weak opening, the stock further dropped 6.5 per cent to Rs 1,501 on BSE. At NSE, shares of the company plunged 5.28 per cent to Rs 1,520.60. Yes Bank yesterday reported a 30.2 per cent rise in net profit at Rs 914.12 crore for the last quarter of 2016-17, even as its bad assets swelled.
The private sector lender had registered a standalone net profit of Rs 702.11 crore in the corresponding January-March period of 2015-16. Total income (standalone) of the bank grew 29.4 per cent to Rs 5,606.38 crore, against Rs 4,331.11 crore in the corresponding period a year ago, the bank said in a regulatory filing.
However, the asset quality of the bank slipped, with gross non-performing assets (NPAs) or bad loans rising to 1.52 per cent of gross advances as on March 31, 2017, as against 0.76 per cent a year ago. Net NPAs rose to 0.81 per cent of net loans disbursed from 0.29 per cent earlier.