South Indian Bank posts 45% rise in PAT in Q1, shares gain over 4%

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New Delhi | Updated: July 8, 2016 4:22:09 PM

Shares of South Indian Bank advanced over 4 per cent intraday on Friday after the bank registered 45 per cent year-on-year rise in net profit at Rs 95.10 crore for the quarter ended June 30, 2016.

south indian bank bse sensexShares of South Indian Bank advanced over 4 per cent intraday on Friday after the bank registered 45 per cent year-on-year rise in net profit at Rs 95.10 crore for the quarter ended June 30, 2016. (Photo: Reuters)

Shares of South Indian Bank advanced over 4 per cent intraday on Friday after the bank registered 45 per cent year-on-year rise in net profit at Rs 95.10 crore for the quarter ended June 30, 2016. The bank had reported net profit of Rs 65.29 crore in the corresponding quarter a year ago.

At 2.30 pm, shares of South Indian Bank were up 2.02 per cent at Rs 22.70. The scrip opened at Rs 22.75 and has touched a high and low of Rs 23.20 and Rs 22.10, respectively, in trade so far. Later, the share price of the company ended 1.57 per cent up at Rs 22.60.

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Total income of the bank increased by 9.47 per cent to Rs 1,620.67 crore for quarter under review as compared to Rs 1,480.51 crore in the same quarter last year.

Gross non-performing assets of South Indian Bank for the quarter ended June 30, 2016 jumped to 3.96 per cent, as compared to 3.77 per cent in the sequential quarter ended March 31, 2016. Net NPA stood at 2.89 per cent in Q1FY17.

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