Indian Overseas Bank Q3 profit jumps 30 per cent to Rs 723 crore on improvement in core income

Indian Overseas Bank (IOB) reported a 30% increase in net profit to Rs 723 crore for the December quarter 2023-24. The bank's total income increased to Rs 7,437 crore, and operating profit improved to Rs 1,780 crore. Gross NPAs declined to 3.90% and net NPAs came down to 0.62%. Provision Coverage Ratio stood at 96.