South Indian Bank Share Price: The South Indian Bank Share recently announced its financial results for the second quarter (Q2) of the fiscal year. The bank’s performance showcased a notable year-on-year growth, with its profit experiencing an impressive 23% surge. Additionally, the net interest income rose by more than 14% during the quarter. Following the release of the results, the bank’s share price observed an upward movement of around 1%, trading at INR 26.20. Notably, in the past six months, this small-cap bank has offered its investors a lucrative return of over 60%.
South Indian Bank Share Financial Highlights of Q2 :
- Net Interest Income (NII): According to the data available on the BSE website, the bank’s NII for September quarter stood at INR 831 crores, reflecting a considerable increase from the INR 726 crores recorded during the same period last year. Overall, the bank earned a total interest of INR 2,129 crores.
- Total Income & Operating Profit: The bank reported a total income of INR 2,484.48 crores. The operating profit amounted to INR 460.57 crores, slightly higher than the INR 426.02 crores during the same quarter of the previous year, and compared to INR 490.54 crores in the June quarter.
- Net Profit: The net profit for Q2 reached INR 274.89 crores, showing a positive trajectory from INR 202.58 crores in the June quarter and INR 223.28 crores in the corresponding quarter last year. The earning per share (EPS) for the recent quarter stood at INR 1.31, as compared to INR 0.97 in the June quarter and INR 1.07 in the same period a year ago.
South Indian Bank Share Asset Quality and Ratios:
- Improvement in NPA: The bank’s asset quality has significantly improved. The Gross NPA (Non-Performing Assets) reduced to 4.96% in Q2, down from 5.13% in the June quarter and 5.67% during the same period last year. The Net NPA for the second quarter was recorded at 1.70%, showing an improvement from 1.85% in the previous quarter and 2.51% a year ago.
- Return Ratios: The Return on Assets (ROA) for Q2 was 0.97%, witnessing a rise from 0.73% in the June quarter and 0.85% in the corresponding period the previous year. The Debt to Equity Ratio in Q2 was at 0.36%, decreasing from 0.43% in the June quarter and significantly lower than the 0.55% a year ago.
- Operational Margins: The bank reported an operating margin of 18.53% in Q2, a slight decline from 20.54% in the previous quarter and 21.34% a year ago. Furthermore, the profit margin for the recent quarter stood at 11.06%, as opposed to 8.48% in the June quarter and 11.18% in the same period last year.
In summary, the South Indian Bank has showcased a robust financial performance in the second quarter, marking a promising trajectory for the rest of the fiscal year.
