IOB · Financial Services
Profit grew much faster than net interest income. Lower provisions, treasury gains or tax?
Net profit +26.6% on the year against net interest income +5.1% (interest earned ₹6,535 cr less interest paid ₹4,094 cr).
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed, Asset quality (lenders), Net interest margin (lenders). Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
Lenders are read on NIM, asset quality, provision cover and credit cost. Those come from the filing read, which is not in yet for this quarter, so margin, other-income and cash checks are withheld rather than shown on a template built for manufacturers.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total income | ₹6,176 cr | ₹6,629 cr | ₹6,535 cr | ₹6,851 cr | ₹7,112 cr | ₹7,634 cr | ₹7,386 cr | ₹7,849 cr | ₹8,172 cr | ₹8,489 cr | ₹8,778 cr | ₹9,201 cr |
| YoY | — | — | +20% | +18% | +15% | +15% | +13% | +15% | +15% | +11% | +19% | +17% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 33% | 32% | 14% | 21% | 29% | 32% | 27% | 29% | 0% | 9% | 11% | 7% |
| Net profit | ₹723 cr | ₹808 cr | ₹633 cr | ₹777 cr | ₹874 cr | ₹1,051 cr | ₹1,111 cr | ₹1,226 cr | ₹1,365 cr | ₹1,505 cr | ₹1,659 cr | ₹1,912 cr |
| YoY | — | — | +27% | +24% | +21% | +30% | +76% | +58% | +56% | +43% | +49% | +56% |
| EPS | ₹0.38 | ₹0.43 | ₹0.33 | ₹0.41 | ₹0.46 | ₹0.55 | ₹0.58 | ₹0.64 | ₹0.71 | ₹0.78 | ₹0.86 | ₹0.99 |
| Flags | · | · | 1 | · | · | · | 1 | 1 | 2 | 2 | · | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Indian Overseas Bank reported total income of ₹6,535 cr (+20.5% on the year) and net profit of ₹633 cr (+26.6% on the year) for April to June 2024.
1 check raised a question: Profit grew much faster than net interest income. Lower provisions, treasury gains or tax?
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