YES Bank reports 91% decline in net profit in Q1FY20 at Rs 114 cr

YES Bank reported a 91 per cent decline in its net profit at Rs 113.8 crore in the April-June quarter (Q1) of 2019-20 (FY20) because of a mark-to-market provisioning of Rs 1,109 crore for bad loans and decline in non-interest income.

In the same quarter of the last financial year (2018-19 or FY19), the bank’s profit was Rs 1,260 crore. The bank had posted its first-ever quarterly loss in January-March quarter of FY19 at Rs 1,507 crore.

This is the second consecutive quarter the bank has shown a massive hit on the bottomline since the new management under