Shares of South Indian Bank
slipped 8% on the BSE on Monday after the bank's net profit in Q3FY19 declined 27% to Rs83.8cr. It had stood at Rs115cr in the same period of the previous fiscal.
The bank’s total operating income in the quarter rose 10% to Rs1,735cr as against Rs1,576.9cr during the previous quarter ended December 2017.
The lender's gross NPAs (GNPAs) rose to 4.88% compared to 3.40% last year, while its net NPAs (NNPAs) also increased to 3.54% in October-December FY19 from 2.35% in the corresponding period of the previous fiscal.
South Indian Bank Ltd share price is currently at Rs14.35, down Rs1.2, or 7.72%, from its previous close of Rs15.55 on the BSE. The scrip opened at Rs15.10 and has touched a high and low of Rs15.10 and Rs14.25, respectively.