The state-owned bank registered a net loss of Rs 1,238 crore for the third quarter ended December 31, 2013 (Q3), due to higher provisioning for bad loans. The state-owned lender had profit of Rs 42 crore in a year ago quarter.
Its gross NPA as a percentage of advances, increased to 10.82% from 4.42%, while net NPA rose to 7.44% from 2.22% during the quarter under review.
The bank has set aside Rs 1,858 crore in the December quarter towards non-performing assets (NPA), which is over four times of Rs 450 crore it provided for bad loans in the same period a year ago.
Over 1.2 million shares were traded on both the stock exchanges so far.
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