Indian Overseas Bank rises on jump in Q3 profit

Indian Overseas Bank

20/01/2025 07:57

** Shares of Indian Overseas Bank  IOBK.NS  rise as much as
5.9% to 53.7 rupees; last up 4.6%
    ** Bank's Q3 net profit rose 20.9% y/y to 8.74 bln rupees
($101 mln), while gross NPA ratio at 2.55% vs 2.72% in Q2 
    ** Over 15.6 mln shares traded, 2x its 30-day moving avg
    ** Stock on track to snap five straight months of losses
    ** IOBK rose 19.5% in 2024, gaining for fourth straight year
 
 ($1 = 86.5160 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))