IDBI Bank posts third straight quarterly loss; shares sink
State-run lender IDBI Bank Ltd
Net loss was 8.53 billion rupees ($133.15 million) in the three months ended June 30, compared with a profit of 2.41 billion rupees a year earlier, the Mumbai-based bank said on Monday. http://bit.ly/2uBF3DR
IDBI Bank had posted a loss of nearly 32 billion rupees in the March quarter this year.
Gross bad loans as a percentage of total loans rose to 24.11 percent at end-June from 21.25 percent at end-March and 11.92 percent a year earlier.
Shares fell as much as 4.6 percent to their lowest in 18 months in trading after the results.
($1 = 64.0625 Indian rupees)
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.