IDBI Bank posts Rs 198-cr loss in Q2, its fourth straight quarterly loss

IDBI shares were trading 4.3 per cent lower at the stock exchange

IDBI Bank Ltd reported its fourth straight quarterly loss on Tuesday as the state-run lender continued to struggle with bad loans.

Net loss came in at Rs 198 crore in the three months ended Septmber 30, compared with a profit of Rs 55.52 crore a year earlier, the Mumbai-based bank said. 

Gross bad loans as a percentage of total loans was 24.98 per cent at end-September, compared with 24.11 per cent a quarter earlier, and 13.05 per cent a year earlier.

IDBI shares were trading 4.3 per cent lower in the Mumbai market that was down 0.29 per cent.