IOB Q2 net falls 24% to Rs 158 cr, stock plunges 7%

Public sector lender Indian Overseas Bank's (IOB) net profit fell by 23.7% year-on-year to Rs 158.4 crore in the second quarter of financial year 2012-13 due to increase in non-performing assets (NPAs).
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead Masteryourmoney Earnings
moneycontrol.com

Home » News » Earnings » Results

Oct 26, 2012, 09.50 PM | Source: Moneycontrol.com

IOB Q2 net falls 24% to Rs 158 cr, stock plunges 7%

Public sector lender Indian Overseas Bank's (IOB) net profit fell by 23.7% year-on-year to Rs 158.4 crore in the second quarter of financial year 2012-13 due to increase in non-performing assets (NPAs).

Like this story, share it with millions of investors on M3

IOB Q2 net falls 24% to Rs 158 cr, stock plunges 7%

Public sector lender Indian Overseas Bank's (IOB) net profit fell by 23.7% year-on-year to Rs 158.4 crore in the second quarter of financial year 2012-13 due to increase in non-performing assets (NPAs).

Post Your Comments

Share Cancel

IOB Q2 net falls 24% to Rs 158 cr, stock plunges 7%
Public sector lender Indian Overseas Bank 's (IOB) net profit fell by 23.7% year-on-year to Rs 158.4 crore in the second quarter of financial year 2012-13 due to increase in non-performing assets (NPAs).

Net interest income declined 1.6% to Rs 1,246.2 crore from Rs 1,266.4 crore during the same period.

Numbers were far lower than expected. Kotak Institutional Equities expected net profit of Rs 339 crore and net interest income of Rs 1,399 crore for the quarter.

Gross NPAs rose by 90 basis points quarter-on-quarter to 3.87 percent while net NPAs increased 77 basis points QoQ to 2.25 percent during the quarter.

Gross NPAs shot up 34.5% QoQ to Rs 5,929.6 crore and net NPAs jumped 57% to Rs 3,378 crore in the July-September quarter.

At 14:59 hours IST, the share plunged nearly 7 percent to Rs 74.70 amid large volumes.

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
IOB Q2 net falls 24% to Rs 158 cr, stock plunges 7%

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login