South India Bank Share Price: Many companies have recently released the results of the first quarter of the financial year 2024-25. This also includes South Indian Bank. The bank informed on Thursday that the profit of the bank has increased by 45 percent on an annual basis in the first quarter of the financial year 2024-25 i.e. from April to June (South Indian Bank Q1 Result). Along with this, the NPA of the bank has also come down. After the bank released its results on July 18, its shares saw a tremendous rally on Friday.
Excellent results in the first quarter
In the April to June quarter, South Indian Bank’s profit increased 45.07 percent year-on-year to Rs 239.9 crore. Along with the increase in profit, the bank’s NPA also declined and it came down to 4.5 percent with a decrease of 0.63 percent. At the same time, the bank’s net NPA also decreased and it came down to 1.44 percent, down by 0.41 percent. The bank has increased its earnings through interest by 7.18 percent to Rs 807.77 crore. Retail deposits in the bank stood at Rs 99,745 crore. A total increase of 8.37 percent has been seen in this.
The results had a great impact on the shares
South Indian Bank’s strong quarterly results filled the pockets of shareholders on Friday, July 19. On Friday, the bank’s shares rose 2.72 percent to Rs 27.22 on the Bombay Stock Exchange. Intraday, the company’s shares rose 6.26 percent to Rs 28.16.
Talking about the bank’s last quarter results, they were not as expected. In the March quarter, the bank’s net profit declined by 14 percent and fell to Rs 287.33 crore.
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