South Indian Bank drops amid volatility after Q2 numbers

South Indian Bank lost 0.81% to Rs 24.55 at 13:49 IST on BSE after net profit rose 18.35% to Rs 110.52 crore on 4.57% growth in total income to Rs 1596.08 crore in Q2 September 2016 over Q2 September 2015.

The result was announced during market hours today, 7 October 2016.

Meanwhile, the S&P BSE Sensex was down 20.76 points or 0.07% at 28,085.45.

On BSE, so far 19.61 lakh shares were traded in the counter as against average daily volume of 7.76 lakh shares in the past one quarter. The stock was volatile. The stock rose as much as 3.23% at the day's high of Rs 25.55 so far during the day, which is a 52-week high for the counter. The stock lost as much as 4.24% at the day's low of Rs 23.70 so far during the day. The stock had hit a 52-week low of Rs 16.40 on 29 February 2016. The stock had outperformed the market over the past one month till 6 October 2016, gaining 8.08% compared with 3.01% fall in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 14.32% as against Sensex's 3.46% rise.

The mid-cap bank has equity capital of Rs 135.06 crore. Face value per share is Rs 1.

The bank's provisions and contingencies surged 90.2% to Rs 128.33 crore in Q2 September 2016 over Q2 September 2015.

South Indian Bank's gross non-performing assets (NPAs) stood at Rs 1745.28 crore as on 30 September 2016 compared with Rs 1651.60 crore as on 30 June 2016 and Rs 892.25 crore as on 30 September 2015. The bank's ratio of gross NPAs to gross advances stood at 3.96% as on 30 September 2016, in line with 3.96% as on 30 June 2016 and 2.24% as on 30 September 2015. The ratio of net NPAs to net advances stood at 2.77% as on 30 September 2016 as against 2.89% as on 30 June 2016 and 1.39% as on 30 September 2015.

South Indian Bank is a private sector bank in India.

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