Home >Companies >South Indian Bank Q2 net profit down 40% at Rs76 crore
South Indian Bank’s provisioning and contingencies jumped to Rs95.71 crore in the second quarter of 2014-15, up from Rs19.76 crore year ago. Photo: Mint
South Indian Bank’s provisioning and contingencies jumped to Rs95.71 crore in the second quarter of 2014-15, up from Rs19.76 crore year ago. Photo: Mint

South Indian Bank Q2 net profit down 40% at Rs76 crore

Bank's total income increases to `1,405.95 crore in September quarter, up from `1,306.73 crore year ago

New Delhi: South Indian Bank on Tuesday reported a 40% drop in net profit to 76.3 crore in the second quarter ended 30 September due to rise in provisioning towards bad assets.

The bank had logged net profit of 126.75 crore during the same quarter in the previous fiscal.

Total income of the private lender increased to 1,405.95 crore during the quarter under review, up from 1,306.73 crore a year ago, the bank said in a BSE filing.

Bank’s provisioning and contingencies jumped to 95.71 crore in the second quarter of 2014-15, up from 19.76 crore in the year ago period.

On the asset front, its net non-performing assets (NPAs) came down to 0.9% during July-September from 1.39% year ago.

Shares of the bank on Tuesday closed at 25.40 apiece on the BSE, down 3.79% from the previous close.

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