Indian Overseas Bank Q4 2023 net profit up by 18% to Rs 650cr

Indian Overseas Bank (IOB) has posted a net profit of INR 650 crores for the fourth quarter of the fiscal year 2023 (Q4 2023), an increase of 17.7%, compared to INR 552 crores for the same quarter of the previous fiscal year.

The net profit of the Indian public sector bank in the previous quarter, that is Q3 2023 was INR 555 crores.

Total income for the reported quarter was INR 6,622 crores, compared to a total income of INR 5,719 crores in Q4 2022. In the last quarter, Indian Overseas Bank’s total income was INR 6,006 crores.

Indian Overseas Bank Q4 2023 net profit up by 18% to Rs 650cr. Photo courtesy of Nivas10798/Wikimedia Commons.

Indian Overseas Bank’s operating profit for the quarter ended 31 March 2023 was INR 1,882 crores, an increase of 16.6%, compared to INR 1,614 crores.

For the fiscal year 2023 ended 31 March 2023, the net profit of Indian Overseas Bank was INR 2,099 crores, compared to INR 1,709 crores in the 12 months ended 31 March 2022.