IOB Q1 FY27: Net profit up 49% YoY at Rs 1,659 Cr, GNPA improves to 1.33%

Indian Overseas Bank reported strong Q1 FY27 results with net profit up 49 percent YoY at Rs 1,659 Cr, driven by 34 percent growth in net interest income to Rs 3,688 Cr and 46 percent jump in non-interest income. Advances grew 23 percent YoY to Rs 3.22 lakh Cr led by retail and agri segments. Asset quality improved sharply with GNPA falling to 1.33 percent and NNPA to 0.18 percent. NIM expanded 31 bps to 3.48 percent domestic and ROE improved to 22.69 percent. However, cost to income ratio worsened to about 54 percent from 44 percent due to a sharp rise in staff expenses.