6% rise in interest expenses to Rs 1096.78 crore saw net interest income (NII) rise 12% to Rs 492.2 crore.

Other income grew 30% to Rs 178.67 crore, which took net total income up 16% to Rs 670.87 crore. Operating expenses grew 22% to Rs 359.99 crore, after which OP grew 11% to Rs 310.88 crore.

Provision and contingencies fell 10% to Rs 148.63 crore after which PBT rose 40% to Rs 162.25 crore.

As tax expenses grew 20% to Rs 48.15 crore, net profit too rose 51% to Rs 114.10 crore.

FY 2018 results

For FY 2018 South Indian Bank registered a 6% rise in Interest income to Rs 6192.81 crore.

1% rise in interest expenses at Rs 4227.29 crore saw net interest income (NII) rise 17% to Rs 1965.52 crore.

Other income grew 17% to Rs 837.25 crore, which took net total income up 17% to Rs 2802.77 crore. Operating expenses grew 12% to Rs 1321.98 crore, after which OP grew 22% to Rs 1480.78 crore.

Provision and contingencies jumped 60% to Rs 980.90 crore after which PBT fell 17% to Rs 499.89 crore.

As tax expenses fell 21% to Rs 165.00 crore, net profit fell 15% to Rs 334.89 crore.

Asset Quality

Gross NPA stood at Rs 1980.30 crore as of March 2018 quarter against Rs 1774.59 crore in December 2017 quarter and Rs 1149.01 crore as of March 201 quarter.

In percentage terms, %GNPA stood at 3.59% as of March 2018 quarter against 3.40% in December 2017 quarter and 2.45% as of March 201 quarter.

Net NPA stood at Rs 1415.80 crore as of March 2018 quarter against Rs 1210.83 crore in December 2017 quarter and Rs 674.56 crore as of March 201 quarter.

In percentage terms, %NNPA stood at 2.60% as of March 2018 quarter against 2.35% in December 2017 quarter and 1.45% as of March 201 quarter.

Book Value

Book Value per share stands at Rs 27.6 per share at end March 2018.

Adjusted Book value (adjusting for NNPA and 10% of restructured advances) stood at Rs 19.7 per share.

Valuation

The share price trades at Rs 27.