South Indian Bank posts 15.58% jump in Q3 net profit
Net NPAs stood at 1.8% of the total advances, compared with 1.04% in the corresponding quarter of the previous fiscal.
South Indian Bank has registered a 15.58% increase in net profit at Rs 101.63 crore for the quarter ended December 31, 2015. The bank had posted a net profit of Rs 87.93 crore in the corresponding period of the previous fiscal.
Total income increased to Rs 1,560.98 crore, up 6.39% from Rs 1,467.13 crore in the December quarter last fiscal, the bank said in a BSE filing. Provisions towards bad loans and contingencies rose to Rs 106.39 crore during the quarter, up 23.75% as against Rs 85.97 crore in the same period a year ago.
Its gross Non-Performing Assets (NPAs) increased to 2.75% in third quarter of 2015-16 from 1.8% a year ago. Net NPAs stood at 1.8% of the total advances, compared with 1.04% in the corresponding quarter of the previous fiscal.
Post the result, South Indian Bank shares were trading at Rs 18.15 per scrip, down 1.09% from their previous close on the BSE.