IDBI Bank tanks 12% as Q1 loss widens to Rs 3,801 crore

Shares of IDBI Bank plunged as much as 12.33 per cent to Rs 23.80 apiece in the morning trade on Friday after the lender posted a net loss of Rs 3,800.84 crore for the quarter ended June 30, 2019. The bank had registered a loss of Rs 2,409.89 crore in the year-ago period.

At 10:07 am, the stock was trading nearly 9 per cent lower at Rs 24.80 apiece on the BSE. In comparison, the benchmark S&P BSE Sensex was ruling 185 points or 0.49 per cent lower at 37,127.03.

IDBI Bank's provisions jumped 20.93 per cent to Rs 6,332.05 crore as