Indian Overseas Bank has reported results for first quarter ended June 30, 2023 (Q1FY24).
The Bank has reported 27.58% rise in its net profit at Rs 500.35 crore for the quarter under review as compared to Rs 392.18 crore for the same quarter in the previous year. Total income of the bank increased by 23.85% at Rs 6227.34 crore for Q1FY24 as compared Rs 5028.20 crore for the corresponding quarter previous year.
On consolidated basis, the bank has reported 28.22% rise in its net profit at Rs 504.03 crore for the quarter ended June 30, 2023 as compared to Rs 393.10 crore for the same quarter in the previous year. Total income of the bank increased by 23.91% at Rs 6234.15 crore for Q1FY24 as compared Rs 5031.21 crore for the corresponding quarter previous year.