Indian Overseas Bank shines on reporting over four fold jump in Q4 net profit

Indian Overseas Bank is currently trading at Rs. 61.00, up by 5.95 points or 10.81% from its previous closing of Rs. 55.05 on the BSE. The scrip opened at Rs. 57.10 and has touched a high and low of Rs. 61.25 and Rs. 55.90 respectively. So far 932421 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 65.65 on 20-May-2013 and a 52 week low of Rs. 37.15 on 19-Aug-2013. Last one week high and low of the scrip stood at Rs. 56.60 and Rs. 52.20 respectively. The current market cap of the company is Rs. 7171.20 crore. The promoters holding in the company stood at 73.80% while Institutions and Non-Institutions held 17.14% and 9.06% respectively. 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.