Indian Overseas Bank (IOB), a public sector lender based in Chennai, on Tuesday reported growth of 4.56 times in its fourth quarter net profit. The bank earned a profit of Rs 2.68 billion for the quarter ended Mar. 31, 2014.

During the quarter, the bank has made Rs 3.24 billion specific cyclical provision for non performing assets. That helps bank to report higher growth in net profit.

The bank's quarterly income totaled at Rs 64.76 billion, an increase of 9.80% over Rs 58.98 billion in the same period a year ago.

Net NPA was at Rs 56.58 billion for the quarter ended Mar. 31, 2014, as compared to Rs 40.27 million for the quarter ended Mar. 31, 2013, representing increase of 40.50%.

Capital Adequacy Ratio of the bank, under Basel III was at 10.78% as on Mar. 31, 2014.

Shares of the bank declined Rs 0.1, or 0.18%, to settle at Rs 55.05. The total volume of shares traded was 230,408 at the BSE (Tuesday).