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Indian Overseas Bank reports 2-fold jump in Q4 net profit

14 Jun 2021 Evaluate

Indian Overseas Bank has reported results for fourth quarter and year ended March 31, 2021.

The bank has reported 2-fold jump in its net profit at Rs 349.77 crore for the quarter under review as compared to Rs 143.79 crore for the same quarter in the previous year. Total income of the bank increased by 10.75% at Rs 6073.80 crore for Q4FY21 as compared Rs 5484.06 crore for the corresponding quarter previous year.

For the year ended March 31, 2021, the bank has reported net profit at Rs 831.47 crore as compared to net loss at Rs 8527.40 crore for the previous year. Total income of the bank increased by 8.75% at Rs 22524.55 crore for year under review as compared to Rs 20712.48 crore for year ended March 31, 2020.

Peers
Company Name CMP
State Bank Of India 952.80
PNB 114.30
Bank Of Baroda 234.55
Canara Bank 119.00
Union Bank Of India 173.00
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