Indian Bank reports net loss of Rs 190 cr in Q4 due to IL&FS provisioning

Indian Bank plans to recover Rs 3,000 crore in FY20, to rope in strategic partner for NBFC arm

The quarterly and annual financial results are to be submitted by listed entities to Sebi within 45 days and 60 days from the end of the quarter and financial year, respectively

Indian Bank reported on Tuesday a net loss of Rs 190 crore during the quarter ended March 31, 2019, compared to a profit of Rs 131 crore in the same period last year.  The loss was due to a provision of around Rs 220 crore towards IL&FS' account and another undisclosed corporate account. The bank said it is confident that it would return to profitability from the next quarter. Meanwhile, the bank is planning to raise Rs 1,500 crore of growth capital and plans to rope in a strategic partner for its NBFC arm, which recently got a deposit licence.  "I am happy ...