October 31, 2017 / 8:51 AM / 19 days ago

India's IDBI Bank posts 4th straight qtrly loss

Oct 31 (Reuters) - IDBI Bank Ltd reported its fourth straight quarterly loss on Tuesday as the state-run lender continued to struggle with bad loans.

Net loss came in at 1.98 billion rupees ($30.59 million) in the three months ended Sept. 30, compared with a profit of 555.2 million rupees a year earlier, the Mumbai-based bank said. (bit.ly/2yZ0wYN)

Gross bad loans as a percentage of total loans was 24.98 percent at end-September, compared with 24.11 percent a quarter earlier, and 13.05 percent a year earlier.

IDBI shares were trading 4.3 percent lower in the Mumbai market that was down 0.29 percent. ($1 = 64.7350 Indian rupees) (Reporting by Samantha Kareen Nair in Bengaluru; Editing by Subhranshu Sahu)

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