Yes Bank shares plunge 4 per cent ahead of Q1 result
New Delhi l Jagran Business Desk: Shares of the private lender Yes Bank on Wednesday dipped 4 per cent in early trade ahead of first-quarter result ending June this year.
Yes Bank shares fell 4.71 per cent at Rs 99 despite opening 8 per cent high at Rs 108 in early trade on the Bombay Stock Exchange.
Majority of brokerage firms see pressure on Yes Bank's profitability considering deterioration in asset quality and muted loan growth during its first quarter.
“YES Bank could continue to face challenging quarter as key risky assets could turn NPA leading to further provisioning. Most business metrics should see slowdown as capital remains at critical levels. Increase in stress ratios could further add to uncertainty of earnings,” analysts at Prabhudas Lilladher said in a quarterly preview note.
Kotak Institutional Equities projected a loss of Rs 578.60 crore for Yes bank against a net profit of Rs 1260.40 crore in the same quarter last year.
The lender had reported a loss of Rs 1506.60 crore in its previous quarter.
(with Reuters input)
Posted By: James Kuanal