October 25, 2018 / 5:49 AM / 4 months ago

BUZZ-India's IDFC Bank, Lakshmi Vilas Bank fall on Sept-qtr loss

** Shares of private sector lenders IDFC Bank Ltd and Lakshmi Vilas Bank Ltd fall 3.4 pct and 8.6 pct, respectively, after they posted Sept-qtr loss on Wednesday

** IDFC posted Sept-qtr loss of 3.70 bln rupees ($50.46 million) - its first qtrly loss since stock market debut in Nov 2015 - as it set aside funds to comply with regulatory norms

** Gross bad loans as a percentage of total loans narrowed to 1.63 pct at Sept-end vs 3.24 pct in the prior quarter and 3.92 pct in the same period a year ago

** IDFC shares fall as much as 3.4 pct to 34.05 rupees

** Lakshmi Vilas Bank posted its third consecutive qtrly loss of 1.32 bln rupees, as its bad loans grew

** Gross bad loans as a percentage of total loans widened to 12.31 pct at Sept-end from 10.73 pct in preceding qtr and 5.50 pct in Sept year ago (bit.ly/2CBOQws)

** Lakshmi Vilas shares fall as much as 8.6 pct to 82.15 rupees in their biggest daily pct fall in nearly a month

$1 = 73.3300 Indian rupees

0 : 0
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