IDBI Bank reports major loss of Rs 3,200 crore for Q4

Mumbai, May 18 (IANS) State-owned IDBI Bank on Thursday reported its standalone net loss at Rs 3,199.76 crore for the fourth quarter (Q4) of 2016-17 ended March 31 -- a plunge of over 84 per cent -- from a net loss of Rs 1,735.81 crore reported during Q4 last fiscal.

The state-run bank's total income for Q4 fell by 2.74 per cent to Rs 8,048.12 crore compared to Rs 8,274.58 crore reported during the corresponding period of 2015-16.

For the financial year ended March 31, the standalone net loss of the bank stood at Rs 5,158.14 crore compared to Rs 3,664.80 crore during 2016-17.

However, the total income during the year under review rose to Rs 31,758.97 crore from Rs 31,453.46 crore reported in the financial year ended March 31, 2016.

On a consolidated basis, the net loss of the state-run bank for the financial year ended March 31, 2017, stood at Rs 5,069.44 crore and the total income at Rs 31,972.57 crore.

The scrip of IDBI Bank plunged by almost eight per cent to close at Rs 70 per share on the BSE.

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