IOB Q1 Net Profit Surges 76%

New Delhi, Jul 18 (PTI) State-owned Indian Overseas Bank on Friday reported a 76 per cent jump in net profit to Rs 1,111 crore during the first quarter of this financial year.

The Chennai-based bank had earned a net profit of Rs 633 crore in the same quarter of the previous fiscal year.

The total income rose to Rs 8,866 crore during the June quarter of 2025-26, from Rs 7,568 crore in the same quarter of FY25, IOB said in a regulatory filing.

Interest earned by the bank improved to Rs 7,386 crore, as compared to Rs 6,535 crore in the June quarter FY25.

During the period, operating profit of the bank increased to Rs 2,358 crore, as compared to Rs 1,676 crore in the same quarter a year ago.

The bank's asset quality showed improvement as gross non-performing assets (NPAs) declined to 1.97 per cent of gross advances at the end of the June quarter, from 2.89 per cent a year ago.

Similarly, net NPAs, or bad loans, declined to 0.32 per cent, as against 0.51 per cent in the year-ago period.

Capital adequacy ratio of the bank rose to 18.28 per cent, from 17.82 per cent in the same quarter of FY25.