Yes Bank shares gave up early morning gains to slip into red on Monday, extending losses after plunging 17.5 percent over the previous two sessions following the Supreme Court's ruling on the lender's Rs 8,415-crore Additional Tier-1 (AT-1) bonds. The decline came despite the private sector lender reporting a 65 percent year-on-year rise in net profit for the September quarter, as concerns persisted over the potential financial impact of the court's judgment.
Yes Bank stock declined 0.29 percent to Rs 17.45 in morning trade, taking its year-to-date loss to 18.8 percent, compared with a fall of 11.5 percent in the Nifty 50 during the same period. The company's market capitalisation stood at approximately Rs 54,805 crore.
The stock traded lower amid weakness in the broader market. At 9:47 am, the Sensex was down 26.32 points, or 0.04 percent, at 74,702.95, while the Nifty 50 slipped 11.75 points, or 0.05 percent, to 23,134.40. Bank Nifty declined 0.43 percent.
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Yes Bank reported a 65 percent year-on-year increase in standalone net profit to Rs 1,080 crore for the second quarter of FY27, supported by higher net interest income and lower provisions. Net interest income (NII) rose 22.7 percent to Rs 2,822 crore from Rs 2,301 crore a year earlier. Operating profit before provisions and contingencies increased 29.4 percent to Rs 1,678 crore, while provisions fell 24.2 percent to Rs 317 crore from Rs 419 crore.