State-owned Dena Bank in its third quarter ended December 2017 (Q3FY18) witnessed net loss widening on quarterly basis due to higher provisions and gross non-performing assets (GNPA). 
 
In Q3FY18, Dena Bank's net loss widened to Rs 380.07 crore versus net loss of Rs 185.02 crore in the preceding quarter. 
 
The bank had reported a net profit of Rs 35.31 crore in the corresponding period of the previous year. 
 
Net Interest Income (NII) of the bank, however, came in at Rs 699.57 crore in Q3FY18, witnessing growth of 5.05% from Rs 652.34 crore in Q3FY17, and also up by 16.46% from Rs 600.67 crore in Q2FY18. 
 
Provisions for NPAs more than doubled to Rs 1,044.28 crore in Q3FY18, up by 144.77% from Rs 426.62 crore in Q3FY18, and also higher by 60.08% from Rs 652.34 crore in Q2FY18. 
 
As of December 2017, provision coverage ratio of the bank stood at 56.85%. 
 
The bank highlighted about the provisions it made for the two list of wilful defaulters identified by the Reserve Bank of India (RBI) for Insolvency & Bankruptcy Code (IBC) proceedings. 
 
For the first list of RBI, the bank has made provisions of Rs 188.65 crore up to December 2017, while balance provision of Rs 95.76 crore is expected to be made by end of March 2018. There are 9 accounts which have defaulted against Dena in RBI's June 2017 list. 
 
Furthermore, in respect to 12 accounts in second list of RBI, the bank has made provisions of Rs 188.41 crore as of December 2017. It was asked by the central bank to make provisions of Rs 376.82 crore, thus remaining Rs 188.41 crore shall be made by March 2018. 
 
Gross NPAs stood at Rs 14,168.78 crore in this period, increasing by 25.37% and 7.32% compared to Rs 11,301.78 crore in Q3FY17 and Rs 13,201.27 crore in Q2FY18 respectively. 
 
In percentage terms, gross NPA was at 19.56% in Q3FY18 versus 14.79% in Q3FY17 and 17.23% in Q2FY18. 
 
On Wednesday, the bank's board proposed  to raise Share Capital of the Bank by way of preferential issue of equity shares upto an amount of Rs 3045 crore (including premium) to the government, subject to necessary approvals from Regulatory authorities and shareholders.
 
The share price of Dena Bank is trading at Rs 22.30 per piece on the BSE, down by 2.62%.