IDBI Bank net loss widens to Rs 2,410 crore in Q1

NEW DELHI: IDBI Bank on Tuesday reported a net loss of Rs 2,410 crore against Rs 853 crore loss reported for the corresponding quarter of last financial year.

The bank provisions for the June quarter stood at Rs 5,236.07 crore against Rs 2,035.96 crore provisions set in the year-ago period.

Gross NPAs for the period stood at Rs 57,806.84 crore against Rs 55,588.26 crore on QoQ basis.


Net NPAs stood at Rs 29,981.07 crore against Rs 28,665.14 crore reported in the March quarter.

Percentage of gross NPAs came in at Rs 30.78 per cent while that of net NPA stood at 18.76 per cent.

Among segment revenues, Corporate/Wholesale banking contributed Rs 3,559.9 crore against Rs 4,027.83 crore in the year-ago period. Retail banking contributed Rs 7,319.75 crore against Rs 7,227.94 crore in the corresponding quarter of last fiscal.

During the quarter, the bank has appropriated an amount of Rs 1,081.8 crore in respect of one case which has been resolved in accordance with the resolution plan approved by the National Company Law Tribunal (NCLT).

Non-Performing loan provisioning coverage ratio (including technical write-offs) stood at 64.45 per cent as on June 30, 2018, the bank said in its press release.

At 03:00 pm, shares of the company were trading half a per cent lower at Rs 60.15 apiece on BSE.