Q4FY23 results: Indian Overseas Bank's net profit grows by 22.76% on y-o-y basis

New Delhi: State-owned Indian Overseas Bank said in a regulatory filing on Friday that the net profit of the bank has surged from Rs 1,70,954 lakhs in FY22 to Rs 2,09,879 lakhs in FY23, registering a growth of 22.76 percent on y-o-y basis. As per the filing, the bank's net profit for Q3FY23 was Rs 55,520 lakhs while it was Rs 65,007 lakhs in Q4FY23, registering an increase of 17.08 percent on q-o-q basis.

The bank's operating profit for FY23 stood at Rs 5,94,218 lakhs while it was Rs 5,76,219 lakhs in FY22, which is an increase of 3.02 percent on annual basis. On a quarterly basis, the bank's operating profit stood at Rs 1,88,168 lakhs in Q4FY23 while its operating profit for Q3FY23 stood at Rs 1,53,994, said the filing.

The total income of the bank for FY23 stood at Rs 23,50,908 lakhs compared to Rs 21,63,289 lakhs in FY22. The Gross NPA of the bank stood at Rs 14,07,155 lakhs in FY23 while its Net NPA stood at Rs 3,26,601. Its Capital Adequacy Ratio stood at 16.1 percent in Q4FY23. Its debt-equity ratio stood at 0.82 percent, the filing noted.

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