IOB Q2 net up marginally at Rs 207 cr

Public sector lender Indian Overseas Bank (IOB) has posted a marginal jump of 0.63% 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% 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% 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.