16 Jan 2021 | 11:57 AM

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South Indian Ban Q1 net profit zoomed 217.97% at Rs 73.26 cr
  South Indian Bank Ltd. | 17 Jan 2020 | 10:51 AM
Published on 07-25-2019
The bank reported standalone net profit of Rs 73.26 crore for the quarter ended June 30 2019 as compared to Rs 23.04 crore in the same period last year registering a year-on-year growth of 217.97 per cent.


Interest income of the bank rose by 14.57 per cent at Rs 1894.85 crore for the quarter ended June 30 2019 as against Rs 1653.91 crore in the corresponding period last year.


During the April-June quarter total income rose moderately by 15.39 per cent to Rs 2076.76 crore from Rs 1799.81 crore in the year ago period.


Meanwhile operating expenses increased by 14.96 per cent to Rs 1759.13 crore from Rs 1530.17 crore in the same period last year.


Operating profit surged 17.80 per cent to Rs 317.63 crore from Rs. 269.64 crore.


Provisions and Contingencies slipped by 11.45 per cent at Rs 205.01 crore from Rs 231.53 crore a year ago.


NII the difference between interest earned on loans and interest paid on deposits increased by 8.38 per cent at Rs 535.66 crore versus Rs 494.25 crore in the year ago period. Non-interest income rose 24.68 per cent year-on-year to Rs 181.91 crore.


On the asset side gross non- performing assets (NPAs) rose to 4.96 per cent of the gross advances as at the end of June 30 2019 from a level of 4.54 per cent year earlier. Its net NPAs or bad loans too increased to 3.41 per cent of net advances on June 30 2019 from 3.27 per cent a year ago.