South Indian Bank declines after poor Q3 numbers

South Indian Bank fell 3.93% to Rs 29.30 at 13:53 IST on BSE after net profit fell 37.77% to Rs 87.93 crore on 9.91% growth in total income to Rs 1467.13 crore.

The Q3 result was announced during market hours today, 20 January 2015.

Meanwhile, the BSE Sensex was up 325.26 points or 1.15% at 28,587.27.

On BSE, so far 15.99 lakh shares were traded in the counter as against average daily volume of 10.19 lakh shares in the past one quarter.

The stock hit a high of Rs 31 and a low of Rs 29.10 so far during the day. The stock hit a 52-week low of Rs 19.65 on 30 January 2014. The stock had hit a record high of Rs 35.05 on 7 July 2014.

The stock had outperformed the market over the past one month till 19 January 2015, advancing 13.59% compared with Sensex's 3.25% rise. The scrip had also outperformed the market in past one quarter, jumping 16.86% as against Sensex's 8.25% rise.

The mid-cap bank has equity capital of Rs 135.01 crore. Face value per share is Re 1.

The banks' ratio of net non-performing assets (NPAs) to net advances stood at 1.04% as on 31 December 2014, compared with 0.9% as on 30 September 2014 and 1.18% as on 31 December 2013. The bank's ratio of gross NPAs to gross advances stood at 1.8% as on 31 December 2014, compared with 1.55% as on 30 September 2014 and 1.66% as on 31 December 2013.

Provisions and contingencies galloped 4155.94% to Rs 85.97 crore in Q3 December 2014 over Q3 December 2013.

The bank's Capital Adequacy Ratio (CAR) as per Basel III stood at 11.38% as on 31 December 2014, compared with 12.13% as on 30 September 2014 and 12.2% as on 31 December 2013.

South Indian Bank is a Kerala-based private-sector bank.

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