South Indian Bank declines on dismal Q2 numbers

South Indian Bank fell 3.79% to Rs 25.40 at 15:25 IST on BSE after bank's net profit fell 39.8% to Rs 76.30 crore on 7.59% rise in total income to Rs 1405.95 crore in Q2 September 2014 over Q2 September 2013.

The bank announced Q2 results during market hours today, 21 October 2014.

Meanwhile, the BSE Sensex was up 116.25 points or 0.44% at 26,546.60.

On BSE, so far 6.05 lakh shares were traded in the counter, compared with an average volume of 6.52 lakh shares in the past one quarter.

The stock hit a high of Rs 26.80 and a low of Rs 25.10 so far during the day. The stock hit a record high of Rs 35.70 on 7 July 2014. The stock hit a 52-week low of Rs 19.65 on 30 January 2014.

The stock had underperformed the market over the past one month till 20 October 2014, falling 4.35% compared with 2.44% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 19.76% as against Sensex's 3.07% rise.

The mid-cap bank has an equity capital of Rs 134.79 crore. Face value per share is Re 1.

The bank's ratio of net non-performing assets (NPAs) to net advances stood at 0.9% as on 30 September 2014, compared with 0.91% as on 30 June 2014 and 1.39% as on 30 September 2013.

The bank's ratio of gross NPAs to gross advances stood at 1.55% as on 30 September 2014, compared with 1.5% as on 30 June 2014 and 1.92% as on 30 September 2013.

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