INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Shares of South Indian Bank climbed nearly 17 per cent in Tuesday’s trade after the private lender reported a 16-fold rise in
profit at Rs 70.13 crore for the quarter ended September 30
The bank had posted a profit of Rs 4.32 crore in the corresponding quarter last year
The lender said its net NPAs for the quarter eased to 3.16 per cent from 3.27 per cent in the June quarter.
Following the results, the
stock rose 16.74 per cent to hit a high of Rs 14.71 on BSE
Net interest income increased marginally by 0.65 per cent YoY to Rs 506.47 crore for the quarter under review against Rs 503.22 crore in
the same period last year
Provisions and contingencies declined to Rs 204.68 crore in Q2FY19 over Rs 453.68 crore in Q2FY18
It was at Rs 231.53 crore in the sequential quarter ended June 30
Percentage of gross non-performing assets stood at 4.61 per cent during the quarter against 4.54 per cent in the preceding quarter
The figure was at 3.57 per cent in Q2FY18
