Indian Overseas Bank net profit rises 49.3% in Q1 FY27
Business
Indian Overseas Bank (IOB) just posted a big win: its net profit soared 49.3% year-on-year for April-June FY27, hitting ₹1,659 crore.
That boost came from stronger asset quality and higher total income, showing the bank is getting healthier and making more money.
IOB NPAs fall, shares jump
IOB's bad loan numbers are way down: Gross NPAs dropped to 1.33% from last year's 1.97%, and net NPAs fell to just 0.18%.
Provisions for bad loans stayed steady at ₹834 crore.
Investors took notice: IOB shares jumped over 4% in afternoon trading, reaching ₹35.2 on the Bombay Stock Exchange as confidence in the bank's future grows.