IDBI Bank tanks 12% as Q1 loss widens to Rs 3,801 crore

Shares of plunged as a lot as 12.33 per cent to Rs 23.80 apiece within the morning commerce on Friday after the lender posted a web loss of Rs 3,800.84 crore for the quarter ended June 30, 2019. The financial institution had registered a loss of Rs 2,409.89 crore within the year-ago interval.

At 10:07 am, the inventory was buying and selling practically 9 per cent decrease at Rs 24.80 apiece on the BSE. In comparability, the benchmark S&P BSE Sensex was ruling 185 factors or 0.49 per cent decrease at 37,127.03.

IDBI Bank’s provisions jumped 20.93 per cent to Rs 6,332.05 crore as towards Rs 5,235.96 crore within the year-ago quarter. In the earlier quarter (January-March interval), provisions stood at Rs 8,532.78 crore.

Gross non performing belongings (GNPAs) got here in at 29.12 per cent towards 30.78 per cent within the corresponding quarter of the earlier fiscal. In March quarter, although, the figures stood at 27.47 per cent. Net non-performong belongings (NPAs) stood at 8.02 per cent as in contrast to 18.76 per cent within the year-ago interval. In Mrach quarter, web NPAs was 10.11 per cent.

Other revenue rose 29.55 per cent year-on-year (YoY) to Rs 832.83 crore within the three months from Rs 642.84 crore a year-ago interval.

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