IOB shares rise nearly 6% as Q2 profit jumps 56% IOB CO
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IOB shares rise nearly 6% as Q2 profit jumps 56%

Indian Overseas Bank surged nearly 6 percent on Monday after the public sector lender reported a 56 percent increase in September-quarter net profit

PSU Watch Bureau

New Delhi: Shares of Indian Overseas Bank (IOB) surged nearly 6 percent on Monday after the public sector lender reported a 56 percent increase in September-quarter net profit, supported by higher interest income.

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The stock closed at Rs 30.34 on the BSE, up 5.71 percent, after touching an intraday high of Rs 30.47, a gain of 6.16 percent. On the NSE, it settled 5.92 percent higher at Rs 30.38.

IOB’s net profit rose to Rs 1,912 crore in the second quarter of FY27, compared with Rs 1,226 crore in the corresponding quarter of FY26.

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Also read:SBI Q1 profit rises 14% to Rs 24,113 crore on better core income, lower provisions

Interest income increased to Rs 9,201 crore from Rs 7,849 crore a year earlier.

The bank’s asset quality also improved, with gross non-performing assets declining to 1.19 percent of gross advances from 1.83 percent in the year-ago quarter.

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