IOB Q2 net up 0.63% at Rs 207.46 cr

Mumbai: Public sector lender Indian Overseas Bank (IOB) has posted a marginal jump of 0.63 per cent in net profit to Rs 207.46 crore for the second quarter ended September 30.

The bank had posted a net profit of Rs 206.15 crore in the July-September quarter of 2010.

The total income of the Chennai-based lender during the quarter rose to Rs 4,822.56 crore, from Rs 3,074.74 crore in the same quarter last fiscal, IOB said in a filing to the BSE.

Net interest income during the quarter rose by 32.43 per cent to Rs 1,266.39 crore from Rs 956.30 crore in the second quarter of FY'11, it said.

During the first six months of the current fiscal, IOB's net profit rose 1.6 per cent to Rs 413.04 crore from Rs 406.59 crore, it added.

The bank's total income rose to Rs 9,146.63 crore from Rs 5,957.12 crore in the same period of 2010-11.

Source: Financial Express