South Indian Share Price in Green After Strong Q2 FY25 Results

South Indian Bank Ltd released its results for the September quarter on October 16. The bank saw an increase in its net profit and improved asset quality compared to the June quarter. Its Net Interest Income (NII), which is its main source of income, rose by 6.3% from last year, reaching ₹882.7 crore, up from ₹830.6 crore.

The bank’s net profit grew by 18.1% to ₹324.5 crore, compared to ₹274.8 crore in the same period last year. Additionally, Other Income for the quarter also saw a significant increase, rising to ₹449 crore from ₹355 crore last year.

South Indian Bank’s asset quality improved compared to the previous quarter, with Gross Non-Performing Assets (NPA) decreasing to 4.4% from 4.5%. The Net NPA also improved to 1.31%, down from 1.44% in the June quarter.

Provisions for the quarter stayed nearly the same at ₹110 crore, compared to ₹113 crore in the June quarter.

Earlier this month, South Indian Bank reported that its gross advances grew by 13.1% year-on-year to ₹84,741 crore, and its deposits increased by 8.6% to ₹1,05,455 crore.

The CASA Ratio at the end of the September quarter was 31.85%, down from 32.03%.

Following the announcement of the results, South Indian Bank’s shares bounced back from their earlier lows and are currently trading 3.51% higher at ₹24.79. The stock has remained flat for the year so far.

South Indian share price rose by as much as 5.42% to reach an intraday high of ₹25.25 on October 16, 2024. This increase in share price followed the bank’s strong financial results for the September quarter of the fiscal year 2025 (Q2FY25).

About South Indian Bank

Established in 1929, South Indian Bank was the first scheduled bank among private banks in Kerala. The bank has a strong presence in South India, especially in Kerala, and offers various services, including retail and corporate banking, para banking activities like debit cards, third-party financial product distribution, as well as treasury and foreign exchange services. 

On October 16, the South Indian share price opened at ₹opened at ₹24.09, touching the day’s high at ₹25.25 as of 01:49 PM on NSE. The bank’s shares have a 52-week high of ₹36.91 and a 52-week low of ₹21.21.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.