Yes Bank Q1 net profit tanks 91% YoY to Rs 113.8 crore, misses estimates

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 Private lender Yes Bank on Wednesda reported 91 percent year on-year (YoY) drop in net profit at Rs 113.8 crore for the first quarter ended June 2019.

In the corresponding quarter last year, the company posted a net profit of Rs 1,260 crore.

This is the second consecutive quarter the bank has shown a massive hit on the bottom line since the new management under Ravneet Gill took over in March after the forced exit of promoter-chief executive Rana Kapoor over governance concerns by the RBI.
The bank fresh slippages at Rs 6232 crore nearly doubled if compared to the Rs 3,408 crore in the previous quarter, leading the gross non-performing assets ratio to rise to 5.01 percent against 1.31 percent in the year-ago period and 2.91 percent three months ago.

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