State-run Corporation Bank reported a loss of Rs 383.37 crore for the third quarter ended December 31, 2015, due to significant jump in bad loans.
The bank had earned a net profit of Rs 147.20 crore in the same quarter last year. Total income also declined to Rs 5,158.52 crore during the quarter from Rs 5,209.54 crore in the previous fiscal.
Gross NPAs as a percentage to total advances rose significantly to 7.32 percent from 4.88 percent in the same quarter year ago.
Net NPAs went up to 4.84 percent from 3.27 percent at the end of December 2014. Total provisions, excluding for income tax, increased three-fold to Rs 1,880.96 crore as against Rs 646.20 crore in the year-ago period.
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