Indian Overseas Bank (IOB) has announced its Q3 FY25 financial results, showcasing strong performance across key metrics while improving its asset quality.
Key Financial Highlights (₹ in Lakhs):
- Total Income: ₹8,40,925, up from ₹8,48,414 in Q2 FY25 but increased significantly from ₹7,43,717 in Q3 FY24.
- Net Profit: ₹87,366, marking a YoY increase of 21% from ₹72,256 in Q3 FY24 and a QoQ rise of 12.86% from ₹77,716 in Q2 FY25.
- Operating Profit: ₹2,26,601, reflecting a YoY growth of 27.25% from ₹1,78,020 in Q3 FY24.
Asset Quality:
- Gross NPA: Improved to ₹6,07,051 lakh, representing 2.55% of total advances, compared to 2.72% in Q2 FY25 and 3.90% in Q3 FY24.
- Net NPA: Reduced to ₹97,591 lakh, with a ratio of 0.42% against 0.47% in Q2 FY25 and 0.62% in Q3 FY24.
Operational Highlights:
- Interest Income: ₹7,11,172, up from ₹6,85,067 in Q2 FY25 and ₹6,17,551 in Q3 FY24.
- Other Income: ₹1,29,753, a slight decline from ₹1,63,347 in Q2 FY25 but higher than ₹1,26,166 in Q3 FY24.
- Total Expenditure: ₹6,14,324, reflecting controlled expenses compared to ₹6,35,592 in Q2 FY25.
Improvements in Return Ratios:
- Return on Assets (ROA): Improved to 0.93%, up from 0.82% in Q2 FY25 and 0.76% in Q3 FY24.
The significant improvement in net profit and reduction in gross NPA underline Indian Overseas Bank’s operational efficiency and enhanced asset quality management. These results position the bank for sustained growth in the coming quarters.
TOPICS:
Indian Overseas Bank