Indian Overseas Bank reports 23% rise in Q3 consolidated net profit

10 Feb 2023 Evaluate

Indian Overseas Bank reported results for third quarter ended December 31, 2022. (Q3FY23).

The bank has reported rise of 22.26% in its net profit at Rs 555.19 crore for Q3FY23 as compared to Rs 454.11 crore for the corresponding quarter previous year. Total income of the bank increased by 12.95% to Rs 6006.01 crore for the quarter under review as compared to Rs 5317.20 crore for the same quarter in the previous year.

On the consolidated basis, the bank has reported rise of 22.99% in its net profit at Rs 555.05 crore for Q3FY23 as compared to Rs 451.28 crore for the same quarter in the previous year. Total income of the bank increased by 12.96% to Rs 6008.07 crore for the quarter under review as compared to Rs 5318.83 crore for the same quarter in the previous year.

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