South Indian Bank Q3 Results: Profit Rises 12%

South Indian Bank Ltd. reported that its net profit during October and December period rose 12% on the year to Rs 342 crore from Rs 305 crore. Its net interest income rose 6% on the year to Rs 869 crore from Rs 819 crore.

The private sector lender's gross non-performing asset stood at 4.30% during the three months ended December sequentially, compared to 4.40% in the preceding quarter. Its net non-performing asset was at 1.25%, against 1.31% in the previous quarter.

South Indian Bank share price declined 5.70% to Rs 25.47 apiece. It was trading 4.00% down at Rs 25.93 apiece as of 1:54 p.m., as compared to a 0.55% decline in the NSE Nifty 50.

The stock declined 8.20% in 12 months. Total traded volume so far in the day stood at 2.1 times its 30-day average. The relative strength index was at 53.00.

Out of six analysts tracking the company, four maintain a 'buy' rating, two recommend a 'hold', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 34.9%.