Indian Bank Q4 net loss at Rs 190 crore


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Chennai-based Indian Bank has reported a Rs 190-crore net loss for the fourth quarter against a net profit of Rs 132 crore in the corresponding quarter last fiscal, owing to higher provisioning for bad assets. The total income of the bank, however, stood at `5,537.46 crore compared to `4,954.20 crore, registering an increase of 11.8%. Padmaja Chunduru, MD & CEO, said that the net loss in Q4 was due to provisioning of `220 crore made towards IL&FS and another group. In Q3 also, provisioning for IL&FS loans had hit the bottomline of the bank with the lender registering a 49.8% decline in its net profit at `152 crore.

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