Shares of Yes Bank today went down by 4 per cent, wiping out Rs 3,192.84 crore from its market valuation following rise in bad loans for the quarter ended in June.
The stock declined 3.61 per cent to settle at Rs 369.60 on the BSE. Intra-day, it slumped 6.44 per cent to Rs 358.75.
On the NSE, shares of the company plunged 4 per cent to close at Rs 367.45.
The company's market valuation went down by Rs 3,192.84 crore to Rs 85,219.16 crore.
On the equity volume front, 18.39 lakh shares of the company were traded on the BSE and over 3 crore shares changed hands on the NSE during the day.
Private sector lender Yes Bank's net profit jumped 30.5 per cent to Rs 1,260.36 crore for the quarter ended on June 30.
The bank had reported a net profit of Rs 965.52 crore in the same quarter of the last fiscal.
Total income of the bank jumped to Rs 8,272.18 crore in the April-June quarter, up 42.96 per cent from Rs 5,785.96 crore in the same quarter of 2017-18, the bank said in a regulatory filing.
Provisions for bad loans and contingencies, however, more than doubled to Rs 625.65 crore in the June quarter from Rs 285.78 crore in the year ago period.
Gross non-performing assets (NPAs) of the bank rose to 1.31 per cent of gross advances as on June 30, 2018, against 0.97 per cent as on June 30, 2017.
Net NPAs or bad loans were up by 0.59 per cent of net advances on June 30, 2018, from 0.39 per cent at the end of the first quarter of 2017-18.
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