Dena Bank Q3 loss at Rs 663 cr in December quarter

State-run Dena Bank today reported a loss of Rs 662.85 crore for the third quarter ended December 31, due to significant jump in bad loans.

The bank had earned a net profit of Rs 76.56 crore in the same quarter last year.

Total income also declined to Rs 2,722.23 crore during the quarter from Rs 2,867.32 crore in the previous fiscal.

Gross NPAs as a percentage to total advances rose significantly to 9.85% from 5.61% in the same quarter year ago.

Net NPAs went up to 6.68% from 3.97% at the end of December 2014.

Total provisions, excluding for income tax, rose fourfold to Rs 966.97 crore as against Rs 241.33 crore in the year-ago period.