Shares of IDBI Bank Monday plunged nearly 6 per cent after the company reported widening of loss to Rs 4,185.48 crore for the December quarter 2018 as bad loans surged.
The stock slumped 4.07 per cent to close at Rs 50.65 on BSE. Intra-day, it tumbled 7.67 per cent to Rs 48.75.
On NSE, shares declined 5.68 per cent to end at Rs 49.75.
On the traded volume front, 36.60 lakh shares changed hands on BSE and 1.8 crore units on NSE.
The bank had reported a net loss of Rs 1,524.31 crore in the corresponding quarter of the previous fiscal.
Total income fell to Rs 6,190.94 crore for the quarter, compared with Rs 7,125.20 crore in the year-ago period, IDBI Bank said in a statement.
The bank's gross non-performing assets (NPAs) shot up to 29.67 per cent of gross advances during the quarter, against 24.72 per cent in the year-ago period.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app