South Indian Bank off 3.6% in 2 days after weak Q1 numbers

Meanwhile, the S&P BSE Sensex was down 23.63 points or 0.12% at 19,934.84.

On BSE, 1.20 lakh shares were traded in the counter as against average daily volume of 3.11 lakh shares in the past one quarter.

The stock hit a high of Rs 22.80 and a low of Rs 21.55 so far during the day. The stock had hit a record high of Rs 30.65 on 7 January 2013. The stock had hit a 52-week low of Rs 19.50 on 25 June 2013.

The stock had underperformed the market over the past one month till 12 July 2013, sliding 7.41% as compared to the Sensex's 4.82% rise. The stock had also underperformed the market in the past one quarter, rising 1.54% as compared to the Sensex's 9.41% surge.

The mid-cap bank has equity capital of Rs 134.03 crore. Face value per share is Re 1.

Shares of South Indian Bank have fallen 3.62% in two trading sessions from a recent high of Rs 23.45 on 11 July 2013, after the bank at the fag end of trading hours on Friday, 12 July 2013, reported weak Q1 earnings. The stock had fallen 1.49% to settle at Rs 23.10 on Friday, 12 July 2013.

South Indian Bank's net profit declined 6.7% to Rs 114.84 crore on 17.3% growth in total income to Rs 1342.88 crore in Q1 June 2013 over Q1 June 2012.

The bank's ratio of net non-performing assets (NPAs) to net advances increased to 1.12% as on 30 June 2013, from 0.78% as on 31 March 2013 and 0.35% as on 30 June 2012. The ratio of gross NPAs to gross advances increased to 1.57% as on 30 June 2013, from 1.36% as on 31 March 2013 and 1.08% as on 30 June 2012.

The bank's capital adequacy ratio (CAR) as per Basel-II norms stood at Rs 13.66% as on 30 June 2013, as against 13.91% as on 31 March 2013 and 13.16% as on 30 June 2012.

South Indian Bank's provisions and contingencies jumped 314.9% to Rs 105.35 crore in Q1 June 2013 over Q1 June 2012.

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

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