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State-owned lender, Indian Overseas Bank on May 2 reported a 30.1 percent rise in its net profit at Rs 1051.07 crore in the fourth quarter of the financial year 2024-25. In the year-ago period, the bank has posted a net profit of Rs 808.1 crore.

On sequential basis, net profit of the PSU lender rose 20.3 percent.

Gross non-performing asset (NPA) ratio of the bank improved to 2.14 percent in January-March quarter, from 2.55 percent in a quarter ago period, and 3.10 percent in a year ago period.

Net NPA of the improved to 0.37 percent in the reporting quarter, as compared to 0.42 percent in a quarter ago period, and 0.57 percent in a year ago period.

(This is a developing story, please check back for more details)

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