Tuesday, 10 October 2017

South Indian Bank Q2FY18 standalone net profit declines 96% yoy to Rs.4.32 crore

South Indian bank reported its Q2FY18 numbers today. NII for the quarter rose by 13.1% yoy to Rs.503 crore in Q2FY18 vs Rs.445 crore in Q2FY17. This was largely due to 6% rise in interest earned in Q2FY18 to Rs.1536 crore.

In terms of asset quality, GNPA for the quarter rose by 1% to Rs.1766 crore in Q2FY18 vs Rs.1745 crore in previous year corresponding quarter. In percentage terms GNPA’s for the quarter declined by 39 bps to 3.57% vs 3.96% in Q2FY17. Also, Net NPA for the quarter declined by 20 bps to 2.57% in Q2FY18 vs 2.77% in Q2FY17.

Provisions for the quarter more than doubled to Rs.453 crore in Q2FY18 vs Rs.128 crore in Q2FY17. This substantial rise in provisions led to slump in bottom-line by 96% to Rs.4.32 crore in Q2FY18 vs Rs. 110 crore in Q2FY17.


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