Mumbai: Private sector lender Yes Bank on Friday reported a net loss of Rs 600 crore in the second quarter ended Septem-ber 30, hurt by a one-time deferred tax adjustment (DTA) of Rs 709 crore and higher provisions on impaired loans.
Excluding the one time DTA impact, the adjusted net profit was at Rs 109 crore. Yes Bank had reported a net profit of Rs 965 crore in the same quarter of the previous year. Net interest income during the quarter declined 9.6 per cent year-on-year to Rs 2,185.91 crore, including the impact of around Rs 228 crore due to fresh slippages. The Non-interest income or other income in the second quarter declined by 35.8 per cent year-on-year to Rs 946 crore.
Provisions rose by 42 per cent to Rs 1,336 crore in the September quarter, as compared to Rs 939 crore in the year ago period. The pre-provision operating profit fell 38.4 per cent yoy to Rs 1,458.44 crore.
