IDBI Bank shares down over 2% as Q3 loss widens

The scrip of IDBI Bank fell by over 2 per cent today after its net loss widened further to Rs 2,254.96 crore in the third quarter of 2016-17.
Shares of the company went down by 2.15 per cent to end at Rs 81.75 on BSE. During the day, it slipped 4.24 per cent to Rs 80.
On NSE, the scrip lost 2.15 per cent to close at Rs 81.75.
In terms of volume, 21.23 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.
Public sector lender IDBI Bank's net loss widened further to Rs 2,254.96 crore in the third quarter of 2016-17 due to higher provisions for rising bad loans and fall in income.

The bank had reported a net loss of Rs 2,183.68 crore in the October-December quarter of previous fiscal 2015-16.
"Total income has decreased to Rs 7,104.21 crore for the quarter ended December 2016 from Rs 7,361.86 crore in the same quarter a year ago," IDBI Bank said in a regulatory filing.
Bank's gross non-performing assets (NPA) shot up to 15.16 per cent of gross advances during the December quarter of 2016-17, against 9.84 per cent in the same period a year ago.