 "IOB Q1 net plunges 95% to Rs 15 crore")
Indian Overseas Bank (IOB) net profit dropped 95 per cent during the quarter ended June to Rs 14.7 crore, from Rs 271.7 crore in the corresponding quarter last year.
Total income increased to Rs 6,672 crore in the quarter under review, from Rs 6,284 crore a year ago.
Gross non-performing assets (NPAs) of the bank as on June 30 stood at Rs 16,451 crore, 9.40 per cent of the gross advances, against Rs 10,351 crore (5.84 per cent) during the corresponding period last year. Gross NPAs for the quarter ended March 31, was Rs 14,922 crore (8.33 per cent).
Net NPAs were Rs 10,640 crore (6.31 per cent), compared with Rs 6,644 crore (3.85 per cent) for the corresponding quarter of the previous year.
The net NPA during the quarter ended March 31, 2015 was at Rs 9,813.33 crore (5.68 per cent).
Provision Coverage Ratio (PCR) stood at 50.79 per as on June 30, 2015.
Net interest margin (NIM) stood at 1.92 per cent during the first quarter as against 1.87 per cent, a year ago.
Total income increased to Rs 6,672 crore in the quarter under review, from Rs 6,284 crore a year ago.
Gross non-performing assets (NPAs) of the bank as on June 30 stood at Rs 16,451 crore, 9.40 per cent of the gross advances, against Rs 10,351 crore (5.84 per cent) during the corresponding period last year. Gross NPAs for the quarter ended March 31, was Rs 14,922 crore (8.33 per cent).
Net NPAs were Rs 10,640 crore (6.31 per cent), compared with Rs 6,644 crore (3.85 per cent) for the corresponding quarter of the previous year.
The net NPA during the quarter ended March 31, 2015 was at Rs 9,813.33 crore (5.68 per cent).
Provision Coverage Ratio (PCR) stood at 50.79 per as on June 30, 2015.
Net interest margin (NIM) stood at 1.92 per cent during the first quarter as against 1.87 per cent, a year ago.
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