Indian Overseas Bank has reported results for first quarter ended June 30, 2014.
The company has posted over two fold jump in its net profit to Rs 271.72 crore as compared to Rs 125.79 crore for the quarter ended June 30, 2013. Its total income has increased by 1.57% to Rs 6284.69 crore for the quarter under review from Rs 6187.15 crore for the corresponding quarter of the previous year.
The bank’s gross NPA for the April-June quarter of the current fiscal stood at 5.84%, as compared to 4.45% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 3.85% in Q1FY15.