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South Indian Bank advances on good Q3 outcome

Capital Market/ 12:34 , Jan 15, 2013

South Indian Bank gained 3.17% to Rs 29.25 at 12:23 IST on BSE after net profit rose 25.44% to Rs 128.25 crore on 18.97% growth in total income to Rs 1193.91 crore in Q3 December 2012 over Q3 December 2011.

The private sector bank declared the Q3 December 2012 results during market hours today, 15 January 2013.

Meanwhile, the BSE Sensex was up 32.39 points or 0.16% to 19,938.80.

On BSE, 23.39 lakh shares were traded in the counter as against average daily volume of 11.17 lakh shares in the past one quarter.

The stock hit a high of Rs 29.70 and a low of Rs 28.40 so far during the day. The stock had hit a 52-week low of Rs 20.10 on 31 August 2012. The stock had hit a 52-week high of Rs 30.65 on 7 January 2013.

The stock had outperformed the market over the past one month till 14 January 2013, rising 6.78% compared with the Sensex's 3.05% rise. The scrip also outperformed the market in past one quarter, surging 21.67% as against Sensex's 6.59% rise.

The private sector bank has equity capital of Rs 133.62 crore. Face value per share is Re 1.

South Indian Bank's provisions and contingencies surged to Rs 45.99 crore in Q3 December 2012 from Rs 22.19 crore in Q3 December 2011.

South Indian Bank's ratio of gross non-performing assets (NPA) to gross advances stood at 1.62% as on 31 December 2012, higher than 0.94% as on 31 December 2011 and 1.74% as on 30 September 2012. The ratio of net NPA to net advances stood at 0.68% as on 31 December 2012, higher than 0.24% as on 31 December 2011 and 0.86% as on 30 September 2012.

The bank's Capital Adequacy Ratio (CAR) as per Basel II norms stood at 13.85% as on 31 December 2012 compared to 12.03% as on 31 December 2011 and 14.43% as on 30 September 2012.

South Indian Bank is a Kerala-based private-sector bank.

 



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