Management

IOB net dips 51% to Rs 176 cr

Indian Overseas Bank today reported 51 per cent decline in its net profit at Rs 176.04 crore for the second quarter ended September 30, 2009. Total income of the state-run lender, however, increased to Rs 2,922.33 crore during the quarter under review from Rs 2,643.26 crore in the corresponding period a year ago, IOB said in a filing to the Bombay Stock Exchange (BSE). Jan cement sales in high double-digit The bank"s total deposits grew 20.54 per cent to Rs 1,094.35 crore during the period and the total business increased 17 per cent to Rs 1,87,853 crore. The bank"s interest income rose 5.06 per cent to Rs 2,549.95 crore during the September quarter. The bank"s capital adequacy ratio increased to 14.27 per cent at the end of September 30.Shares of IOB were trading at Rs 110.80, down 4.61 per cent in afternoon trade on the BSE.


Add your comment:
Name:
Site address: http://
Your message:
Enter today\\\\'s date, 2 digits
(spam protection):

Categories
Business Ideas
Business Opportunities
Corporate
Home Business
International Business
Management
Online Business
Public Company
Public Relations
Small Business
News of the day
PE, VC investments set to be robust in '10: Experts
Private equity and venture capital (VC) investments, which usually help shape new business ideas, are likely to witness significantly higher levels of deal closures, both in terms of deal value and volume, from early this year on, according to experts.
Popular Articles

TCIL starts process to exit from Bharti Hexacom
Having failed to get returns on its Rs 100-crore investment in Bharti Hexacom, state-run TCIL today started the process to sell its 30 per cent stake in the JV by inviting investment bankers to work out the valuation.

Bharati hikes open offer for Great Offshore to Rs 560/share
Bharati Shipyard today said it has hiked the open offer price to acquire stake in offshore service provider Great Offshore to Rs 560 per share.

© Copyright 2009