Research Icon - South Indian Bank reports 7.9% yoy rise in PAT for Q3FY20; stock trades flat

South Indian Bank on Thursday posted a 7.9% rise in net profit to Rs90.54cr for Q3FY20.

The bank had recorded a net profit of Rs83.85cr in the year-ago period.

Total income rose to Rs2,187.73cr during the said quarter vs. Rs1,921.93cr in the year-ago period.

Gross NPAs rose to 4.96% of the total advances vs. 4.88% yoy. However, net NPAs fell to 3.44% vs. 3.54% yoy.

Stock View:

South Indian Bank Ltd is currently trading at Rs11 down by Rs0.07 or 0.63% from its previous closing of Rs11.07 on the BSE.

The scrip opened at Rs11.14 and has touched a high and low of Rs11.24 and Rs10.75 respectively.

So far 72,39,309 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs2,003.36cr.

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