Indian Overseas Bank posts consolidated PAT of Rs. 500.20 crores in Q2FY23

Indian Overseas Bank has reported Consolidated financial results for the period ended September 30, 2022.

Financial Results (Q2 FY2023) - QoQ Comparison

The company has reported total income of Rs. 5854.02 crores during the period ended September 30, 2022 as compared to Rs. 5031.21 crores during the period ended June 30, 2022.

The company has posted net profit / (loss) of Rs. 500.20 crores for the period ended September 30, 2022 as against net profit / (loss) of Rs. 393.10 crores for the period ended June 30, 2022.

The company has reported EPS of Rs. 0.2646 for the period ended September 30, 2022 as compared to Rs. 0.2079 for the period ended June 30, 2022.

Financials	Q2 FY2023	Q1 FY2023	% Change
Total Income	₹ 5854.02 crs	₹5031.21 crs	16.35%
Net Profit	₹500.20 crs	₹393.10 crs	27.24%
EPS	₹0.2646	₹0.2079	27.27%

Financial Results (Q2 FY2023) - YoY Comparison

The company has reported total income of Rs. 5854.02 crores during the period ended September 30, 2022 as compared to Rs.5092.68 crores during the period ended September 30, 2021.

The company has posted net profit / (loss) of Rs.500.20 crores for the period ended September 30, 2022 as against net profit / (loss) of Rs.376.51 crores for the period ended September 30, 2021.

The company has reported EPS of Rs.0.2646 for the period ended September 30, 2022 as compared to Rs.0.1991 for the period ended September 30, 2021.

Financials	Q2 FY2023	Q2 FY2022	% Change
Total Income	₹ 5854.02 crs	₹5092.68 crs	14.95%
Net Profit	₹500.20 crs	₹376.51 crs	32.85%
EPS	₹0.2646	₹0.1991	32.90%

Financial Results (Half Year Ended FY2023) - YoY Comparison

The company has reported total income of Rs.10885.23 crores during the 6 Months period ended September 30, 2022 as compared to Rs.10705.17 crores during the 6 Months period ended September 30, 2021.

The company has posted net profit / (loss) of Rs.893.30 crores for the 6 Months period ended September 30, 2022 as against net profit / (loss) of Rs.706.18 crores for the 6 Months period ended September 30, 2021.

The company has reported EPS of Rs.0.4725 for the 6 Months period ended September 30, 2022 as compared to Rs.0.3735 for the 6 Months period ended September 30, 2021.

Financials	Half Year Ended FY2023	Half Year Ended FY2022	% Change
Total Income	₹10885.23 crs	₹10705.17 crs	1.68%
Net Profit	₹893.30 crs	₹706.18 crs	26.50%
EPS	₹0.4725	₹0.3735	26.51%

Asset Quality:

Asset Quality	Q2 FY2023	Q1 FY2023	Q2 FY2022
Gross NPA	₹14726.35 crs	₹14919.06 crs	₹15665.69 crs
Gross NPA %	8.53%	9.12%	10.66%
Net NPA	₹4148.60 crs	₹3698.12 crs	₹3741.21 crs
Net NPA %	2.56%	2.43%	2.77%

Gross NPA was at ₹ 14726.35 crs in Q2 FY2023 against ₹ 15665.69 crs in Q2 FY2022. The same was at ₹ 14919.06 crs in Q1 FY2023.

Net NPA was at ₹ 4148.60 crs in Q2 FY2023 against ₹ 3741.21 crs in Q2 FY2022. The same was at ₹ 3698.12 crs in Q1 FY2023.

GNPA was at 8.53% of Gross advances as on September 30, 2022 as compared to 10.66% as on September 30, 2021 and 9.12% as of June 30, 2022.

Net NPA was at 2.56% of Gross advances as on September 30, 2022 as compared to 2.77% as on September 30, 2021 and 2.43% as of June 30, 2022.

Ratios	Q2 FY2023	Q1 FY2023	Q2 FY2022
RoA %	0.65%	0.51%	0.53%
CAR (BASEL III) %	15.14%	14.79%	15.41%

Return on Average Assets (RoA) is at 0.65% for Q2 FY2023 against 0.51% in Q1 FY2023 and 0.53% in Q2 FY2022.

In Q2 FY2023, Bank's total Capital Adequacy Ratio (CAR) was at 15.14%, as compared to 14.79% in Q1 FY2023 and 15.41% in Q2 FY2022.

Shares of Indian Overseas Bank was last trading in BSE at Rs. 21.65 as compared to the previous close of Rs. 19.35. The total number of shares traded during the day was 4760328 in over 5415 trades.

The stock hit an intraday high of Rs. 21.90 and intraday low of 19.35. The net turnover during the day was Rs. 100625314.00.

Source : Equity Bulls

Keywords

IndianOverseasBank Q2FY23 H1FY23 ResultUpdate IOB