Indian Overseas Bank Q1 net profit up 13.5% at Rs 233.43 crore

CHENNAI: Indian Overseas Bank ( IOB) today reported 13.5 per cent increase in net profit at Rs 233.43 crore for the first quarter ended June 30, 2012.

The public sector bank's net profit was Rs 205.58 crore during the same period last fiscal.

The total income for the reporting quarter rose to Rs 5,402.84 crore from Rs 4,331.77 crore registered during the same period of 2011.

The total business during April-June, 2012 grew by 23.28 per cent to Rs 3,33,248 crore from Rs 2,70,320 crore as on June 30, 2011.

IOB's total deposits grew to Rs 1,84,882 crore from Rs 1,51,173 crore registered during the same period of last year.

The net interest income increased to Rs 1,328.28 crore for the first quarter ending June 30, 2012, up by 11.84 per cent from Rs 1,187.63 crore during the same period last year.

Earnings per share for the quarter ending June 30, 2012 stood at Rs 11.72.

The Gross NPA for the period stood at Rs 4,409.70 crore (2.97 per cent) as against Rs 3,291.64 crore in the year-ago period.

The net NPA as on June 30, 2012 stood at Rs 2,152.09 crore (1.48 per cent) as against Rs 1,258.16 crore (1.08 per cent) registered during the same period of last year.

Shares of IOB today closed at Rs 72.40 apiece, up 3.43 per cent over the previous close on the BSE.