South Indian Bank reports a 17% year-on-year rise in Q1 net profit to ₹378 crore, according to multiple outlets. NDTV attributes the increase to operating performance, noting that net profit grows 17.3% from the same quarter a year earlier. Business Standard adds that net interest income (NII) increases 23.1% to ₹1,024.72 crore. The improvement is also linked to changes in credit costs: Business Standard states that provisions fall 64.7%, supporting the profit rise. It further reports an improvement in asset quality, with the gross NPA ratio improving to 1.38% on a year-on-year basis. Together, the coverage indicates that stronger earnings and higher NII are accompanied by lower provisions and better gross non-performing asset metrics in the quarter.
South Indian Bank Q1 profit rises 17% to ₹378 crore as NII and asset quality improve
South Indian Bank reports a 17% year-on-year rise in Q1 net profit to ₹378 crore, according to multiple outlets. NDTV attributes the increase to operating performance, noting that net profit grows 17....
- South Indian Bank’s Q1 net profit rises 17% year-on-year to ₹378 crore.
- Net interest income (NII) increases 23.1% to ₹1,024.72 crore.
- Provisions decline 64.7% year-on-year, according to Business Standard.
- Gross NPA ratio improves to 1.38% year-on-year.
- Reports describe the results as reflecting stronger operating performance alongside lower credit provisions.
South Indian Bank's net profit 17.3% surged to Rs 378 crore on an year on year basis.
4 hours agoSouth Indian Bank's net profit 17.3% surged to Rs 378 crore on an year on year basis.
4 hours agoNet interest income increased 23.1% to ₹1,024.72 crore, while provisions fell 64.7% and the gross NPA ratio improved to 1.38% year-on-year
5 hours ago
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