IOB returns to profit with ₹213 cr. Q3 net

Public sector lender Indian Overseas Bank (IOB) has reported a standalone net profit of ₹212.87 crore for the third quarter ended December against a loss of ₹6,075 crore in the year-earlier period.

“For the last four quarters, we have now been making profit consistently. When compared with Q3 performances of FY20, there is a marked improvement in all key parameters,” said P.P. Sengupta, MD & CEO. Gross non-perfoming assets (GNPA) fell 12.19% to ₹16,753 crore, while net NPAs declined 3.13% to ₹3,905 crore.

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