NEW DELHI: Shares of IDBI Bank tumbled 5 per cent in Wednesdays trade after the bank said its loss widened to Rs 5,763.04 crore for the December quarter from Rs 4,185.48 crore in the year-ago period.The scrip fell 4.72 per cent to hit a low of Rs 35.25 on BSE.The bank had reported Rs 3,458.84 crore loss in the September quarter.
The lender, however, said it would have reported a profit of Rs 418 crore instead of a loss of Rs 5,763 crore, if continued under the old tax regime.The LIC-owned lender made Rs 6,523 crore as provisions for taxes during the quarter, even provisions - contingencies stood mere at a mere Rs 521.95 crore compared with Rs 6,530.75 crore in provisions in the year-ago period.Gross non-performing assets (NPAs) for the quarter fell to 28.72 per cent from 29.43 per cent in September quarter and 29.67 per cent in the year-ago quarter.In respect of RBI-referred NCLT accounts, the bank is holding provisions worth Rs 22,644.40 crore as on December 31, 2019.