Indian Overseas Bank is trading in a bearish mood inching lower nearly 4% on BSE at 11:51 IST on today’s trade.
On today’s trade, the total traded quantity stood at 2.72 lakh shares with a turnover of 77.92 lakh on BSE.
The public sector lender reported its financials on the previous trading day showcasing a loss of Rs 646.66 crore for March quarter.
The bank had registered a net loss of Rs 936.19 crore for the corresponding quarter last year.
The bank has kept aside Rs 1,789 crore towards provisions and contingencies for bad loans, which were lower compared with Rs 2,666 crore provisions that it had made for the year-ago quarter.
The bank’s NPA ticked up to 22.39% of gross advances at the end of March from 17.40 % in the year-ago period.
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