South Indian Bank Q4 Results: Profit jumps 19% to Rs 342 crore despite rise in provisions
South Indian on Thursday reported a near 19% year-on-year jump in fourth quarter net profit at Rs 342 crore as compared with Rs 288 crore in the year ago-period, despite a six-fold rise in provisions and contingencies.
The bank's share price jumped 3.8% to 27.77 on BSE reacting to the financial numbers.
Pre-provision operating profit for the quarter stood 57% higher at Rs 683 crore against Rs 434 crore. Provisions and contingencies were at Rs 224 crore as compared with Rs 41 crore.
The bank's annual net profit for FY25 stood at Rs 1303 crore, which is its highest-ever, up 22% over 1070 crore in the preceding fiscal.
Its board has declared a 40% dividend for FY25. Shareholders will get 40 paise per equity share of face value of Re 1 each. The
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The Kerala-headquartered lender's asset quality improved with gross non-performing assets to 3.20% at the end of March, down by 130 basis points from 4.50% a year-back. Net NPA stood at 0.92% against 1.46%.
Its gross advances grew 8.9% year-on-year to Rs 87,579 crore with the corporate loan segment growing about 13% to Rs 36198 crore.
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