Shares of Indian Overseas Bank (IOB) jumped nearly 6% on January 20 after the bank reported an impressive 21% year-over-year rise in net profit in the October-December quarter (Q3) of financial year 2025.
The bank's consolidated net profit stood at Rs 875.27 crore in Q3FY25 as against Rs 724.14 crore net profit reported in the year-ago period.
IOB reported Rs 7,115.88 crore as interest earned during the quarter, an increase of 15% from the interest earned in Q3FY 24. The bank's total income also saw a rise of 13% YoY at Rs 8,415.34 crore.
The net Non Performing Assets (NPA) of the company on a standalone basis showed strong improvement, declining over 25% YoY to Rs 976 crore in Q3 of FY 25. The percentage of NPA currently stands at 0.42%.
Read about Q3 result updates LIVE
IOB is one of the PSU Banks. While announcing the results for Q3, it announced that at the end of December, the Government of India held 96.38% stake in the bank.
The shares of the company jumped around 6% to trade at Rs 53.66 apiece after the results announcement. The shares, however, later pared some gains and were trading at Rs 52.81 apiece (4.31% higher) at 12.55 pm. The shares have so far surged around 21% in the past one year.
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