New Delhi: Shares of South Indian Bank Tuesday surged nearly 17% after the company reported a profit of 70.13 crore for the September quarter.

The stock rose by 16.11% to settle at 14.63 apiece on the BSE. Intra-day, it soared 16.98% to 14.74.

On the NSE, shares of the company jumped 16.66% to close at 14.70.

In terms of the equity volume, 202.66 lakh shares of the company were traded on the BSE and over 11 crore shares changed hands on the NSE during the day.

The bank had posted a profit of 4.32 crore during the July-September 2017 quarter.

As per the regulatory filing of the bank on Monday, the total income of the lender during the second quarter of the current fiscal was 1,854.4 crore as against 1,816.67 crore in the same period in 2017-18.

The bank’s gross non-performing asset (NPA) widened to 4.61% of its assets compared to 3.57%.

This story has been published from a wire agency feed without modifications to the text.

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