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South Indian Bank registered a 3% rise in Interest income to Rs 1490.67 crore in the quarter ended June 2017.
4% fall in interest expenses to Rs 1029.96 crore saw net interest income (NII) rise 23% to Rs 460.71 crore.
Other income grew 26% to Rs 219.30 crore, which took net total income up 24% to Rs 680.01 crore. Operating expenses grew 4% to Rs 300.52 crore, after which OP rose 46% to Rs 379.49 crore.
Provision and contingencies jumped 97% to Rs 224.31 crore after which PBT rose 7% to Rs 155.18 crore.
As tax expenses grew 7% to Rs 53.71 crore, net profit increased 7% to Rs 101.47 crore.
FY 2017 results
In FY 2017, South Indian Bank registered a 5% rise in Interest income to Rs 5847.08 crore. 3% rise in interest expenses to Rs 4171.65 crore saw net interest income (NII) rise 11% to Rs 1675.43 crore.
OP rose 38% to Rs 1214.59 crore.
Provision and contingencies rose 66% to Rs 614.37 crore after which PBT rose 18% to Rs 600.22 crore. As tax expenses grew 18% to Rs 207.72 crore, net profit increased 18% to Rs 382.50 crore.
Asset Quality
Gross NPA stood at Rs 1695.71 crore as of June 2017 quarter against Rs 1149.01 crore in March 2017 quarter and Rs 1651.60 crore as of June 2016 quarter.
In percentage terms, %GNPA stood at 3.61% as of June 2017 quarter against 2.45% in March 2017 quarter and 3.96% as of June 2016 quarter.
Net NPA stood at Rs 1182.51 crore as of June 2017 quarter against Rs 674.56 crore in March 2017 quarter and Rs 1191.83 crore as of June 2016 quarter.
In percentage terms, %NNPA stood at 2.54% as of June 2017 quarter against 1.45% in March 2017 quarter and 2.89% as of June 2016 quarter.
Book Value
Book Value per share stands at Rs 26.1 per share at end June 2017.
Adjusted Book value (adjusting for NNPA and 10% of restructured advances) stood at Rs 19.2 per share at end June 2017.
Valuation
The share price trades at Rs 28.
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