Indian Overseas Bank Q2 net profit rises 25% to Rs 625 cr

New Delhi: Indian Overseas Bank (IOB) on Friday reported a 25 per cent growth in net profit to Rs 625 crore during the September quarter.

The state-owned lender had posted a net profit of Rs 501 crore in the year-ago period.

IOB's gross NPA ratio improved to 4.74 per cent in the second quarter of this fiscal, from 8.53 per cent in the same period of 2022-23 fiscal.

Interest income stood at Rs 5,821 crore for the quarter ended September 30, 2023. Total business improved to Rs 4.82 lakh crore.

Shares of IOB were trading 4.74 per cent higher at Rs 40.22 apiece on the BSE.