South Indian Bank on Thursday reported a 13.88% decline in March quarter net profit to Rs 287.56 crore. The private sector bank posted a net profit of Rs 333.89 crore in the January-March period of the 2022-23 fiscal year.
Total expenditure increased to Rs 2,187 crore in the March quarter, from Rs 1,757 crore in the same period a year ago, South Indian Bank said in a regulatory filing.
The bank's total income rose to Rs 2,621 crore in the fourth quarter of 2023-24, from Rs 2,318 crore in the year-ago period.
For 2023-24 fiscal, the bank's net profit rose 38% to Rs 1,070 crore, from Rs 775 crore in the 2022-23 fiscal.
The bank's board has recommended a dividend of Rs.0.30 per equity shares of face value of Re 1 each (30%) for the financial year ended March 31, 2024. Shares of South Indian Bank were trading at Rs 28.92, down 6.01% over previous close on the BSE.
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