1% fall in interest expenses to Rs 1005.00 crore saw net interest income (NII) rising 15% to Rs 445.18 crore.

Other income grew 20% to Rs 145.90 crore, which took net total income up 16% to Rs 591.08 crore.

Operating expenses fell 1% to Rs 293.74 crore, after which OP rose 40% to Rs 297.34 crore.

Provision and contingencies rose 90% to Rs 128.33 crore after which PBT rose 16% to Rs 169.01 crore.

As tax expenses grew 12% to Rs 58.49 crore, net profit increased 18% to Rs 110.52 crore.

Six months results

For the six month ended September 2016, south Indian Bank registered a 6% rise in Interest income to Rs 2897.41 crore.

1% rise in interest expenses to Rs 2078.60 crore saw net interest income (NII) rise 12% to Rs 818.81 crore.

Other income grew 42% to Rs 319.34 crore, which took net total income up 19% to Rs 1138.15 crore.

Operating expenses grew 4% to Rs 581.33 crore, after which OP rose 41% to Rs 556.82 crore.

Provision and contingencies rose 65% to Rs 242.44 crore after which PBT rose 27% to Rs 314.38 crore.

As tax expenses grew 23% to Rs 108.80 crore, net profit increased 30% to Rs 205.58 crore.

FY 2016 results

For FY 2016 the bank had registered a 5% rise in Interest income to Rs 5557.20 crore. A 3% rise in interest expenses to Rs 4047.50 crore saw net interest income (NII) rise 11% to Rs 1509.70 crore.

OP had grown 8% to Rs 879.28 crore.

Provision and contingencies had fallen 11% to Rs 369.62 crore, after which PBT had grown 27% to Rs 509.66 crore. EO income was NIL against Rs 43.39 crore. Thus PBT after EO had grown 14% to Rs 509.66 crore. As tax expenses had grown 27% to Rs 176.39 crore, net profit had grown 8% to Rs 333.27 crore.

Asset Quality

Gross NPA stood at Rs 1745.28 crore as of September 2016 quarter against Rs 1651.60 crore in June 2016 quarter and Rs 892.25 crore as of September 2015 quarter.

In percentage terms, %GNPA stood at 3.96% as of September 2016 quarter against 3.96% in June 2016 quarter and 2.24% as of September 2015 quarter.

Net NPA stood at Rs 1206.35 crore as of September 2016 quarter against Rs 1191.83 crore in June 2016 quarter and Rs 549.56 crore as of September 2015 quarter.

In percentage terms, %NNPA stood at 2.77% as of September 2016 quarter against 2.89% in June 2016 quarter and 1.39% as of September 2015 quarter.

Capital Adequacy Ratio

Capital Adequacy Ratio stood at 11.13% as of September 2016 quarter against 11.68% in June 2016 quarter and 11.86% as of September 2015 quarter.

Book Value

Book Value per share stands at Rs 29.0 per share at end September 2016.

Adjusted Book value (adjusting for NNPA and 10% of restructured advances) stood at Rs 19.1 per share at end September 2016.

Valuation

The share price trades at Rs 24.