South Indian Bank, the private sector lender, today reported a fall of 39.80% in second quarter profit. The bank reported a profit of Rs 763 million for the quarter ended Sept. 30, 2014, compared with Rs 1,268 million, a year ago.
Quarterly income totalled at Rs 14.06 billion, an increase of 7.59% over Rs 13.07 billion in the same period a year ago.
The bank has made provision of Rs 957.1 million, which was higher by 4.84 times from prior year period.
Net NPA was at 3.18 billion for the quarter ended Sept. 30, 2014, as compared to Rs 4.40 billion in the same period last year, representing a decrease of 27.61%.
In percentage term, net NPAs were at 0.90% at the end of the quarter lower than 1.39% from last year period.
Capital adequacy ratio (CAR) of the bank under Basel III was at 12.13% as on Sept. 30, 2014.
