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IOB Tumbles 15.6 Per cent As Q2 Net Loss Widens

By Super
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Mumbai, Nov 2 (PTI) Shares of Indian Overseas Bank today slumped 15.5 per cent to touch a one-year low after the company reported a net loss of Rs 550.83 crore for the second quarter ended September 30.

The stock plunged 15.57 per cent to Rs 29.55 -- its 52- week low -- on BSE. On NSE, it fell 15.57 per cent to hit its one-year low of Rs 29.55.

IOB Tumbles 15.6 Per cent As Q2 Net Loss Widens
Indian Overseas Bank: Quotes, News
BSE 17.60BSE Quote1.6 (9.09%)
NSE 17.60NSE Quote1.6 (9.09%)
 

The Chennai-based bank had logged a net loss of Rs 245.51 crore in the same period of the previous year, the lender said in a BSE filing.

For the half-year period ended September 30, net loss stood at Rs 536.07 crore as against a net profit of Rs 26.21 crore a year ago.

Total income for July-September increased to Rs 6,769.94 crore, from Rs 6,440.77 crore in the same period of the previous fiscal.

PTI

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