South Indian Bank, the private sector lender, today reported a 45.60% jump in net profit at Rs 950.60 million for the first quarter ended Jun. 30, 2016 from Rs 652.90 million in the same period last year.
Total income of the bank increased 9.46% to Rs 16.20 billion during the quarter from Rs 14.80 billion in the corresponding period last year.
The bank has made provision of Rs 1,141.10 million, which was higher by 43.52% from prior year period to Rs 795.10 million.
During the quarter, the gross non-performing assets (NPAs) rose to 2.31 times end of first quarter of FY16. Similarly, the net NPAs rose to 2.89% from 1.21% in the same period last year. For the quarter ended June. 30, 2016, the capital adequacy ratio under basel-III norms was 11.68%.
Shares of the bank gained Rs 0.4, or 1.8%, to trade at Rs 22.65. The total volume of shares traded was 3,219,959 at the BSE (2.40 p.m., Friday).