Stock Report

Indian Overseas Bank posts consolidated PAT of Rs. 724.13 crores in Q3 FY24

Posted On : 2024-01-24 16:45:21( TIMEZONE : IST )

Indian Overseas Bank has reported Consolidated financial results for the period ended December 31, 2023.

Financial Results (Q3 FY2024) - QoQ Comparison

The company has reported total income of Rs. 7442.65 crores during the period ended December 31, 2023 as compared to Rs. 6941.50 crores during the period ended September 30, 2023.

The company has posted net profit / (loss) of Rs. 724.13 crores for the period ended December 31, 2023 as against net profit / (loss) of Rs. 627.18 crores for the period ended September 30, 2023.

The company has reported EPS of Rs. 0.383 for the period ended December 31, 2023 as compared to Rs. 0.3317 for the period ended September 30, 2023.

Financials	Q3 FY2024	Q2 FY2024	% Change
Total Income	₹ 7442.65 crs	₹6941.50 crs	7.22%
Net Profit	₹724.13 crs	₹627.18 crs	15.46%
EPS	₹0.383	₹0.3317	15.47%

Financial Results (Q3 FY2024) - YoY Comparison

The company has reported total income of Rs. 7442.65 crores during the period ended December 31, 2023 as compared to Rs.6008.07 crores during the period ended December 31, 2022.

The company has posted net profit / (loss) of Rs.724.13 crores for the period ended December 31, 2023 as against net profit / (loss) of Rs.555.05 crores for the period ended December 31, 2022.

The company has reported EPS of Rs.0.383 for the period ended December 31, 2023 as compared to Rs.0.2936 for the period ended December 31, 2022.

Financials	Q3 FY2024	Q3 FY2023	% Change
Total Income	₹ 7442.65 crs	₹6008.07 crs	23.88%
Net Profit	₹724.13 crs	₹555.05 crs	30.46%
EPS	₹0.383	₹0.2936	30.45%

Financial Results (9 Months Ended FY2024) - YoY Comparison

The company has reported total income of Rs.20618.30 crores during the 9 Months period ended December 31, 2023 as compared to Rs.16892.85 crores during the 9 Months period ended December 31, 2022.

The company has posted net profit / (loss) of Rs.1855.24 crores for the 9 Months period ended December 31, 2023 as against net profit / (loss) of Rs.1448.36 crores for the 9 Months period ended December 31, 2022.

The company has reported EPS of Rs.0.9814 for the 9 Months period ended December 31, 2023 as compared to Rs.0.7662 for the 9 Months period ended December 31, 2022.

Financials	9 Months Ended FY2024	9 Months Ended FY2023	% Change
Total Income	₹20618.30 crs	₹16892.85 crs	22.05%
Net Profit	₹1855.24 crs	₹1448.36 crs	28.09%
EPS	₹0.9814	₹0.7662	28.09%

Asset Quality:

Asset Quality	Q3 FY2024	Q2 FY2024	Q3 FY2023
Gross NPA	₹8440.83 crs	₹9893.30 crs	₹14333.21 crs
Gross NPA %	3.90%	4.74%	8.19%
Net NPA	₹1302.58 crs	₹1364.34 crs	₹4000.35 crs
Net NPA %	0.62%	0.68%	2.43%

Gross NPA was at ₹ 8440.83 crs in Q3 FY2024 against ₹ 14333.21 crs in Q3 FY2023. The same was at ₹ 9893.30 crs in Q2 FY2024.

Net NPA was at ₹ 1302.58 crs in Q3 FY2024 against ₹ 4000.35 crs in Q3 FY2023. The same was at ₹ 1364.34 crs in Q2 FY2024.

GNPA was at 3.90% of Gross advances as on December 31, 2023 as compared to 8.19% as on December 31, 2022 and 4.74% as of September 30, 2023.

Net NPA was at 0.62% of Gross advances as on December 31, 2023 as compared to 2.43% as on December 31, 2022 and 0.68% as of September 30, 2023.

Ratios	Q3 FY2024	Q2 FY2024	Q3 FY2023
RoA %	0.86%	0.75%	0.73%
CAR (BASEL III) %	16.80%	17%	15.16%

Return on Average Assets (RoA) is at 0.86% for Q3 FY2024 against 0.75% in Q2 FY2024 and 0.73% in Q3 FY2023.

In Q3 FY2024, Bank's total Capital Adequacy Ratio (CAR) was at 16.80%, as compared to 17% in Q2 FY2024 and 15.16% in Q3 FY2023.

Shares of Indian Overseas Bank was last trading in BSE at Rs. 43.73 as compared to the previous close of Rs. 45.26. The total number of shares traded during the day was 4478438 in over 11554 trades.

The stock hit an intraday high of Rs. 47.06 and intraday low of 43.42. The net turnover during the day was Rs. 203449186.00.