IDBI Bank posts fourth straight quarterly loss

(Reuters) - 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 1.98 billion rupees ($30.59 million) in the three months ended Sept. 30, compared with a profit of 555.2 million rupees a year earlier, the Mumbai-based bank said. (http://bit.ly/2yZ0wYN)

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

IDBI shares were trading 4.3 percent lower in the Mumbai market <.NSEI> that was down 0.29 percent.

($1 = 64.7350 Indian rupees)

 

(Reporting by Samantha Kareen Nair in Bengaluru; Editing by Subhranshu Sahu)