IDBI Bank remains in red; posts net loss at Rs 36.02 billion loss for Q2

The ailing lender, which is under PCA regime, posted a drop in net interest income to Rs 13 billion

Public sector lender IDBI Bank remained in red as its net loss widened to Rs 36.02 billion for the second quarter, which ended on September 2018 on a sharp rise in provisions for bad loans. This is the eight quarter in a row that the bank has posted a quarterly loss. 

It had posted a net loss of Rs 1.97 billion in July-September quarter for the previous financial year. Sequentially, the losses surged from Rs 24.09 billion in April-June 2018. 

Its operating profit went down to Rs 8.5 billion in Q2FY19 from Rs 28.03 billion in the same quarter last