Indian Overseas Bank Q3 net profit soars 56% YoY to ₹1,365 crore, NII up 18%; shares rise 4%

In the corresponding period of the previous fiscal year, it had clocked a profit of ₹873.66 crore, the bank said in a regulatory filing.

The public sector bank’s net interest income (NII) stood at ₹3,298.5 crore during the quarter under review, marking an 18% annual jump from ₹2,789 crore in the December quarter of the 2024-25 fiscal year (Q3FY25).

IOB’s asset quality improved both sequentially and annually, with gross non-performing assets (GNPA) falling to stand at 1.54% in Q3FY26, compared to 1.83% in the second quarter of the current fiscal year, and 2.55% in the year-ago period.

Its net non-performing assets (NNPA) also improved, declining to 0.24%, as against 0.28% a quarter earlier, and 0.42% in the third quarter of FY25.

Indian Overseas Bank stock performance

Shares of IOB soared as much as 3.95% to an intraday high of ₹36.77 per unit on the National Stock Exchange (NSE), on the back of its Q3 earnings.

At around 1:37 pm, the scrip was trading 2.43% higher at ₹36.23 per equity share.

The share has fallen by over 1% in the past week and more than 2% over the month. On a year-to-date basis, it has lost about 0.2%.

While the stock hit a 52-week low of ₹33.50 on April 7, 2025, it reached a year’s high of ₹54.54 per equity share on January 14, 2025.

IOB revises overnight MCLR

In a regulatory filing dated January 13, the bank notified the exchanges that its Asset-Liability Committee (ALCO), at a meeting, reviewed the Marginal Cost of Funds-Based Lending Rate (MCLR) working (as on January 10) and reduced the overnight MCLR by five basis points (bps).

With this revision, the overnight MCLR stands at 7.95% and will come into effect on Thursday, January 15.

Indian Overseas Bank has a total market capitalisation of ₹69,785.88 crore, as of January 14, 2025, according to data on the NSE.