Indian Overseas Bank Q2 profit jumps 56% to ₹1,962.67 crore

Indian Overseas Bank reported a 55.9% rise in consolidated net profit to ₹1,962.67 crore for the September quarter, helped by core income growth and better asset quality. Net interest income rose 26.41% to ₹3,867 crore and domestic margin improved to 3.49%. Non-interest income fell 10.11% to ₹1,227 crore. The bank plans a QIP in the fourth quarter.