South Indian Bank Ltd.'s net profit for the second quarter of fiscal year 2027 jumped 21.4% year-on-year, according to an exchange filing on Thursday. The bank posted a bottom-line of Rs 426 crore, as compared to Rs 351 crore in the year-ago period.
Net Interest Income climbed 38% to Rs 1,116 crore, from Rs 809 crore in the corresponding quarter of the last fiscal. Asset quality improved sharply on a sequential basis, with the bank's gross non-performing assets declining to 1.24% from 1.38%, and net NPA falling to 0.09% from 1.38% in the previous quarter.
Operating profit rose 36.6% to Rs 732 crore from Rs 536 crore in the preceding quarter. Provisions stood at Rs 159 crore, rising from 63 crore in the year-ago period and 84 crore in Q1 of the current fiscal.
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South Indian Bank (Q2, YoY)
- Net profit up 21.4% to Rs 426 crore versus Rs 351 crore.
- NII up 38% to Rs 1,116 crore versus Rs 809 crore.
- Operating profit up 36.6% to Rs 732 crore versus Rs 536 crore.
- Gross NPA at 1.24% versus 1.38% (QoQ).
- Net NPA at 0.09% versus 0.26% (QoQ).
- Provisions at Rs 159 crore versus Rs 63 crore. (YoY)
- Provisions at Rs 159 crore versus Rs 84 crore. (QoQ)
South Indian Bank Share Price
Shares of South Indian Bank surged as high as 5% after the declaration of the results to an intraday high level of Rs 52.08 apiece. The stock later pared some gains to trade 3% higher at Rs 51.11. This compared to a 1.67% advance in the Nifty index on Thursday.
Follow all the Q2 results live updates here.
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