Public sector Indian Overseas Bank on Thursday, reported standalone net profit at ₹143.79 crore for the January-March 2020 quarter.
The city-headquartered bank had reported a net loss at ₹1,985.16 crore during corresponding quarter previous year.
For the year ending March 31, 2020, net loss of the bank stood at ₹8,527.40 crore as against a net loss of ₹3,737.88 crore recorded in the same period last fiscal, Indian Overseas Bank said in a BSE filing.
Total income for the quarter under review stood at ₹5,484.06 crore as against ₹5,473.92 crore registered in the same period last fiscal.
For the full year ending March 31, 2020, total income of the bank was at ₹20,712.48 crore as against ₹21,837.58 crore registered previous year.
During the financial year ending March 31,2020, the bank said it successfully raised Basel III Compliant Tier II Bonds Series III to the tune of ₹500 crore.
This story has been published from a wire agency feed without modifications to the text.