South Indian Bank Q1FY24 profit jumps 75.4% to Rs 202.58 crore, NII at Rs 807.7 crore

South Indian Bank on Thursday posted fiscal first quarter profit at Rs 202.58 crore, up 75.4 per cent in comparison to Rs 115.48 crore in the corresponding quarter of last year. It posted net interest income (NII) at Rs 807.7 crore during the quarter, up 33.9 per cent as against Rs 603.4 crore during Q1FY23. The South Indian Bank earned a total interest of Rs 2025.04 core, up 24.9 per cent from Rs 1621.81 crore a year earlier. 

The bank’s gross NPA during Q1FY24 was at 5.13 per cent and the net NPA stood at 1.85 per cent. It recorded a total income for the quarter at Rs 2386.06 crore, up 27.7 per cent on-year from Rs 1868.07 crore during the corresponding quarter of last year. Meanwhile, the total expenditure was at Rs 1895.52 crore during Q1FY24, up 22.2 per cent as against Rs 1551.12 crore in the same quarter of previous year.