IOB Q2 net loss at Rs.1,222 cr, total income goes down

Chennai, Nov 7 : Public sector Indian Overseas Bank (IOB) on Tuesday said it closed the second quarter of the current fiscal with a higher net loss of Rs 1,222.50 crore, up from Rs.765.13 crore posted during the corresponding quarter of the previous year.

In a regulatory filing in the BSE, the bank also said its total income stood at Rs 5,610.35 crore for the quarter ended September 30, 2017 down from Rs 5,961.62 crore for the same quarter last year.

The bank's gross and net non performing assets (NPA) as on September 30, 2017 stood at Rs 34,708.59 crore and Rs 18,949.55 crore respectively against a Rs 34,724.12 crore and Rs 20,765.31 crore respectively in the same quarter last year.