Private sector lender Yes Bank on Friday recorded a huge stand-alone net loss of ₹ 3,788 crore for the fourth quarter ended March 2021 due to lower income and higher bad debt provisions.
The bank reported a loss of ₹ 3,668 crore over the same period last year. However, due to the exceptional recovery of ₹ 6,296.94 crore, the lender’s net profit turned positive at ₹ 2,628.61 crore during the period January-March 2019-20. During the quarter, the bank’s total income fell to ₹ 4,805.30 from ₹ 5,818.59 crore in the same period a year ago, Yes Bank said in a regulatory filing. Provisions and contingencies amounted to ₹ 5,239.59 crore compared to ₹ 4,872.34 crore.