IDBI Bank Q3 loss narrows to Rs 1,524 crore, provisions spike 30%

NEW DELHI: State-run lender IDBI Bank's Q3 standalone loss narrowed down to Rs 1,524.31 crore against Rs 2,255 crore in the corresponding quarter last fiscal.

It had reported a net loss of Rs 197.84 crore in the Q2FY18.

Net sales from the operations stood at Rs 6,645.81 crore compared with Rs 7,104.21 crore in December quarter last fiscal.


Net interest income (NII) for the quarter under review more than doubled to Rs 1,665.51 crore. For the December quarter 2016, it stood at Rs 813.25 crore.

Provisions and contingencies for the September-December period spiked 30 per cent to Rs 4,179.12 crore against Rs 3,205.56 crore in December quarter last fiscal.

Gross bad loans as a percentage of total loans stood at 24.72 per cent at end-December compared with 24.98 per cent in the previous quarter and 15.16 per cent a year ago, Reuters reported.