Indian Overseas Bank reports over four fold jump in Q4 net profit

Indian Overseas Bank has reported results for fourth quarter and year ended March 31, 2014. The bank has reported over four fold jump in its net profit at Rs 268.33 crore for the quarter as compared to Rs 58.87 crore for the same quarter in the previous year. Total income of the bank has increased by 9.79% at Rs 6,475.93 crore for quarter under review, as compared to Rs 5,898.15 crore for the quarter ended March 31, 2013. For the full year ended March 31, 2014, the bank has reported a rise of 6.08% in its net profit after tax at Rs 601.74 crore, as compared to Rs 567.23 crore for FY13. Total income has increased by 9.72% at Rs 24,853.07 crore for year under review as compared to Rs 22,649.63 crore for the year ended March 31, 2013.