Yes Bank on Friday reported a net loss of Rs 600 crore for the second quarter of current financial year. The private sector lender had reported a net profit of Rs 965 crore for the corresponding period of financial year 2018-19. In a regulatory filing to stock exchanges after market hours, Yes Bank said its net interest income fell 9.6 per cent to Rs 2,186 crore in the July-September period, from Rs 2,418 crore in the year-ago period. Net interest income is the difference between interest earned and interest expended.
Yes Bank's asset quality in the July-September period worsened, with gross non-performing assets (NPA) as a percentage of total advances rising to 7.39 per cent in Q2 from 5.01 per cent in the previous quarter.
Gross NPAs stood at Rs 17,134 crore and net NPAs were 9,757 crore in the September quarter.
Net NPAs came in at 4.35 per cent versus 2.91 per cent in the previous quarter.
Retail banking loans grew 30 per cent year-on-year and was 20 per cent of the total loan book, Yes Bank said in earning release.
Gross slippages came in at Rs 5,945 crore during the second quarter and recoveries aggregated to Rs 867 crore during the quarter, Yes Bank added.
Yes Bank shares ended 6 per cent lower at Rs 66.10 ahead of earnings.