Dena Bank registers Rs 44 crore loss in September quarter
Total income of the bank increased to Rs 2,914.1 crore during the quarter, as against Rs 2,872.0 crore in the year-ago period.
By : DC Correspondent
Update: 2016-11-05 09:18 GMT
New Delhi: Dena Bank on November 5 reported a loss of Rs 44.3 crore for the September quarter on account of higher provisions for bad loans.
The state-owned lender's net profit stood at Rs 38.7 crore in the same period last fiscal.
Total income of the bank increased to Rs 2,914.1 crore during the quarter, as against Rs 2,872.0 crore in the year-ago period, Dena Bank said in a filing to the stock exchanges.
During the quarter, gross non-performing assets (NPAs) nearly doubled to 13.79 per cent as against 6.89 per cent in the year-earlier period. Net NPAs too moved up to 8.93 per cent, from 4.65 per cent a year ago.
As a result, provisions for bad loans surged to Rs 542.25 crore, from Rs 283.52 crore in the previous fiscal.