Indian Overseas Bank Q1 profit rises 49% to ₹1,659 crore
after close1 source ↓written by the desknot a recommendation
- YoY from ₹1
- 49%
- to ₹3.22 lakh
- 23% increase in advances
- to ₹105 crore
- 41%
Indian Overseas Bank reported a net profit of ₹1,659 crore, up 49% YoY from ₹1,111 crore. The net interest income surged 34% to ₹3,688 crore, driven by a 23% increase in advances to ₹3.22 lakh crore. Provisions for bad loans fell 41% to ₹105 crore, enhancing profitability.
Not investment advice. For informational purposes only.