IDBI Bank on Tuesday reported a net loss of Rs 2,410 crore for the June 2018 quarter, wider than the Rs 853-crore loss reported in the same period last year, owing to a 157 per cent year-on-year jump in provisions.

The bank also reported its highest ever gross non-performing asset ratio at 30.78 per cent, up 283 basis points sequentially. Provisions stood at Rs 5,236 crore in the June quarter, 157 per cent higher than what it had reported in Q1FY18.

The net NPA ratio rose 207 bps sequentially to 18.76 per cent. The bank chose to avail the regulatory dispensation to spread provisions against mark-to-market losses on its investments during the June quarter over four quarters. In Q1, IDBI Bank saw a reversal of provisions worth Rs 488 crore against MTM losses taken in the December and March quarters of FY18. After setting aside Rs 415 crore as MTM provisions for the June quarter, the net reversal of provisions on the bank’s books stood at Rs 73 crore. It will have to provide another Rs 1,449 crore against MTM losses over the coming three quarters.