IOB s net loss falls by 65.6% in Q1
Thursday - August 10, 2017 10:48 pm ,
Category : BUSINESS
New Delhi Aug 10 (IANS) State-run Indian Overseas Bank (IOB) on Thursday reported a fall in net loss by 65.6 per cent at Rs 49 909 lakh in the first quarter ended June 30 compared with a loss of Rs 1 45 050 lakh in the year-ago period.
The lender s provision for non-performing assets (NPAs) in the quarter under review stood at Rs 1 60 788 lakh down by 24.7 per cent from Rs 2 13 781 lakh in the corresponding quarter of last fiscal.
The bank s total income during the period was Rs 5 17 450 lakh down by 11.82 per cent from Rs 5 86 844 lakh in the same period in the last fiscal.
In the said quarter IOB s gross NPAs stood at Rs 35 45 312 lakh up by 4.5 per cent from Rs 33 91 315 lakh in the corresponding period last year.
--IANS
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