Indian Overseas Bank has reported results for the second quarter ended September 30, 2013.
The bank has reported a net loss of Rs 245.51 crore for the quarter as compared to a net profit of Rs 132.55 crore for the same quarter in the previous year. Total income of the bank has increased by 7.35% at Rs 6440.77 crore for quarter under review as compared to Rs 5999.75 crore for the quarter ended September 30, 2012.
Gross non-performing assets (NPAs) increased to 7.35% in the July-September quarter as against 4.65% in the same quarter previous year, while net NPAs stood to 5.17%.
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