Indian Overseas Bank (IOB), a public sector lender based in Chennai, today reported a fall of 86.77% in net profit on year-on-year basis to Rs 355 million for the quarter ended Mar. 31, 2015 as compared to Rs 2683.8 million in the same period last year.

Total income increased by 3.52% to Rs 67.04 billion for the quarter ended Mar. 31, 2015 as compared to Rs 64.76 billion in the same period last year.

The bank has made provision of Rs 9.86 billion, which was lower by 18.10% from prior year period to Rs 12.04 billion.Net NPA was at Rs 98.13 billion for the quarter ended Mar. 31, 2015, as compared to Rs 56.58 billion in the same period last year, representing decrease of 73.44%.

In percentage term, net NPAs were at 5.68 % at the end of the quarter, lower than 3.20% from last year period.

Capital adequacy ratio (CAR) of the bank under Basel III was at 10.11% as on Mar. 31, 2015.

Shares of the company declined Rs 0.65, or 1.58%, to settle at Rs 40.55. The total volume of shares traded was 954,748 at the BSE (Friday).