YES Bank's Q3 net profit surges to ₹231 cr; here’s how stock reacts
The Q3 profit grew multi-fold from ₹51 crore in the year ago period, aided by sharp decline in provisions, credit growth, and higher income.
The Q3 profit grew multi-fold from ₹51 crore in the year ago period, aided by sharp decline in provisions, credit growth, and higher income.
The private lender is seeking buyers for its ₹4,233 crore distressed loan, which comprises corporate loan portfolio of ₹3,091 crore and retail portfolio of ₹1,142 crore.
Sequentially, the company’s profit declined by 34.3% as against ₹343 crore in the June quarter of FY24.
The 3-year lock-in period for SBI expires today, while for other shareholders such as Axis Bank, ICICI Bank, IDFC First Bank, HDFC Bank, it will end on March 13.
Shares of Yes Bank dropped 9% to ₹17.85 apiece on the National Stock Exchange (NSE).