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South Indian Bank slumps after posting disappointing Q2 results

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slumped 6.24% to Rs 30.05 at 14:41 on after net profit plunged 96.09% to Rs 4.32 crore on 13.82% rise in total to Rs 1816.67 crore in Q2 September 2017 over Q2 September 2016.

The result was announced during market hours today, 10 October 2017.

Meanwhile, the S&P Sensex was up 115.91 points or 0.36% at 31,962.80. The S&P Mid-Cap index was up 93.47 points or 0.59% at 15,927.60.

High volumes were witnessed on the counter. On the BSE, 57.22 lakh shares were traded in the counter so far as against average daily volume of 19.78 lakh shares in the past one quarter. The stock had hit a high of Rs 32.30 and matched with its 52-week high hit yesterday, 9 October 2017. The stock had hit a low of Rs 29.40 so far during the day. The stock had hit a 52-week low of Rs 18.60 on 26 December 2016.

The bank's gross non-performing assets (NPAs) rose to Rs 1766.32 crore as on 30 September 2017 as against Rs 1695.71 crore as on 30 June 2017 and Rs 1745.28 crore as on 30 September 2016.

The ratio of gross NPAs to gross advances stood at 3.57% as on 30 September 2017 as against 3.61% as on 30 June 2017 and 3.96% as on 30 September 2016.

The ratio of net NPAs to net advances stood at 2.57% as on 30 September 2017 as against 2.54% as on 30 June 2017 and 2.77% as on 30 September 2016.

The bank's provisions and contingencies surged 253.52% to Rs 453.68 crore in Q2 September 2017 over Q2 September 2016.

is a private sector in India headquartered in Thrissur, Kerala.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, October 10 2017. 14:56 IST
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