Mumbai: IDBI Bank reported a narrowing of its net loss to Rs 4,918.44 crore on standalone basis for the March quarter of the last fiscal due to decrease in bad loan provisions.
The bank has posted a net loss of Rs 5,662.76 crore during the corresponding quarter of 2017-18.
Total income decreased to Rs 6,616.06 crore as against Rs 7,915.22 crore in the year-ago, the bank said.
For the entire 2018-19 fiscal, its standalone net loss widened to Rs 15,116.30 crore from Rs 8237.92 crore a year ago. Total income during the year fell to Rs 25,371.53 crore from Rs 30,040.11 crore in the preceding fiscal.
On a consolidated basis, the bank reported a net loss of Rs 15,012.97 crore in 2018-19, as against Rs 8,157.11 crore in 2017-18. Total income during the fiscal was down at Rs 25,637.43 crore as against Rs 30,294.31 crore. Gross non-performing assets (NPAs) stood at 27.47 per cent of the gross loans at end of March 31, 2019, as against 27.95 per cent by the end of March 2018.