Indian Overseas Bank (IOB), a public sector lender based in Chennai, today reported net loss of Rs 2.46 billion for the quarter ended Sept. 30, 2014, compared with net profit of Rs 1.33 billion, a year ago.

Quarterly income totalled at Rs 64.41 billion, an increase of 7.35% over Rs 59.99 billion in the same period a year ago.

The bank has made provision of Rs 8.92 billion, which was higher by 43.96% from prior year period to Rs 6.20 billion.

Net NPA was at 91.09 billion for the quarter ended Sept. 30, 2014, as compared to Rs 48.75 billion in the same period last year, representing a increase of 86.85%.

In percentage term, net NPAs were at 5.17% at the end of the quarter higher than 2.83% from last year period.

Capital adequacy ratio (CAR) of the bank under Basel III was at 10.30% as on Sept. 30, 2014.

Net interest income stood at Rs 13.44 billion for Q2 of 2014-15 as against Rs 14.27 billion as on Jun. 30, 2014. Net interest margin stood at 2.07% during the quarter ending Sept. 30, 2014.

Total deposits grew from Rs 2,218.79 billion as on Jun. 30, 2014 to Rs 2,392.24 billion as on Sept. 30, 2014 recording a growth of 7.8%. Gross advances increased from Rs 1,773.09 billion as on Jun. 30, 2014 to Rs 1,815.15 billion as on Sept. 30, 2014 registering growth of 2.4%.

Shares of the bank declined Rs 3.3, or 5.54%, to trade at Rs 56.30. The total volume of shares traded was 987,068 at the BSE (1.57 p.m., Thursday).