State-owned IDBI Bank's net loss widened to Rs 5,662.76 crore in the quarter ended March 2018 due to higher provisioning for non-performing assets (NPAs). The bank had reported a net loss of Rs 3,199.77 crore in the January-March quarter of 2016-17.
Total income during January-March quarter stood at Rs 7,913.82 crore against Rs 7,703.19 crore in the year-ago period, IDBI Bank said in a regulatory filing today.
Gross NPAs soared to 27.95 per cent of its loans at March 2018-end compared with 21.25 per cent at the end of March 2017. Similarly, net NPAs stood at 16.69 per cent compared with 13.21 per cent.
In absolute terms, gross bad loans stood at Rs 55,588.26 crore against Rs 44,752.59 crore on March 31, 2017. Provisioning for NPAs were raised to Rs 10,773.30 crore in the fourth quarter of the fiscal ended March 2018, up from Rs 6,054.39 crore parked aside in the year-ago period.
IDBI Bank ended the session down by 3.13 per cent at Rs 65.10 on the BSE.