IDBI Bank Q4 net loss widens in March quarter as bad loans surge

NPA provisions balloon to Rs 5,333 cr in Q4

Weighed down by heavy provisions for bad loans, ailing IDBI Bank’s net loss grew to Rs 3,199 crore in the March quarter. Its loss in the same quarter of 2016 was Rs 1,735 crore.

Operating profit in the quarter declined to Rs 1,389 crore, from Rs 1,595 crore a year before.

Its share price closed 7.7 per cent down at Rs 70 on the BSE exchange. The loss for 2016-17 stood at Rs 5,158 crore, up from Rs 3,664 crore in 2015-16.

The Reserve Bank of India (RBI) has already put IDBI under a prompt corrective action (PCA) regime, due