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South Indian Bank shines on reporting 20% rise in Q2 net profit

The South Indian Bank is currently trading at Rs. 10.37, up by 0.42 points or 4.22% from its previous closing of Rs. 9.95 on the BSE.

The scrip opened at Rs. 10.30 and has touched a high and low of Rs. 10.60 and Rs. 10.25 respectively. So far 605366 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 18.55 on 08-Apr-2019 and a 52 week low of Rs. 8.50 on 15-Oct-2019.

Last one week high and low of the scrip stood at Rs. 10.60 and Rs. 8.50 respectively. The current market cap of the company is Rs. 1883.92 crore.

The Institutions and Non-Institutions held 31.57% and 68.43% stake respectively, in the company.

South Indian Bank has reported 20.46% rise in its net profit at Rs 84.48 crore for the quarter ended September 30, 2019 as compared to Rs 70.13 crore for the same quarter in the previous year. Total income of the bank increased by 18.81% at Rs 2203.18 crore for Q2FY20 as compared Rs 1854.40 crore for the corresponding quarter previous year.

The Bank’s gross NPA for the July-September quarter of the current fiscal increased to 4.92%, as compared to 4.61% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 3.48% in Q2FY20.

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