IDBI Bank Ltd on Monday reported a net loss of Rs853.01 crore in the quarter against a profit of Rs241.10 crore in the same quarter last year due to increase in bad loans and slower credit growth.
However, the loss was restricted due to tax write-back of Rs339.61 crore.
Gross non-performing assets (NPAs) surged 84% to Rs50,173 crore during the quarter from Rs272.75 billion in the same quarter last year.