Stock Report

The South Indian Bank Ltd consolidated Q2 FY2024 PAT climbs to Rs. 274.89 crores

Posted On : 2023-10-20 17:13:50( TIMEZONE : IST )

The South Indian Bank Limited has reported Consolidated financial results for the period ended September 30, 2023.

Financial Results (Q2 FY2024) - QoQ Comparison

The company has reported total income of Rs. 2484.48 crores during the period ended September 30, 2023 as compared to Rs. 2386.06 crores during the period ended June 30, 2023.

The company has posted net profit / (loss) of Rs. 274.89 crores for the period ended September 30, 2023 as against net profit / (loss) of Rs. 202.58 crores for the period ended June 30, 2023.

The company has reported EPS of Rs. 1.31 for the period ended September 30, 2023 as compared to Rs. 0.97 for the period ended June 30, 2023.

Financials	Q2 FY2024	Q1 FY2024	% Change
Total Income	₹ 2484.48 crs	₹2386.06 crs	4.12%
Net Profit	₹274.89 crs	₹202.58 crs	35.69%
EPS	₹1.31	₹0.97	35.05%

Financial Results (Q2 FY2024) - YoY Comparison

The company has reported total income of Rs. 2484.48 crores during the period ended September 30, 2023 as compared to Rs.1995.12 crores during the period ended September 30, 2022.

The company has posted net profit / (loss) of Rs.274.89 crores for the period ended September 30, 2023 as against net profit / (loss) of Rs.223.28 crores for the period ended September 30, 2022.

The company has reported EPS of Rs.1.31 for the period ended September 30, 2023 as compared to Rs.1.07 for the period ended September 30, 2022.

Financials	Q2 FY2024	Q2 FY2023	% Change
Total Income	₹ 2484.48 crs	₹1995.12 crs	24.53%
Net Profit	₹274.89 crs	₹223.28 crs	23.11%
EPS	₹1.31	₹1.07	22.43%

Financial Results (Half Year Ended FY2024) - YoY Comparison

The company has reported total income of Rs.4870.54 crores during the 6 Months period ended September 30, 2023 as compared to Rs.3863.19 crores during the 6 Months period ended September 30, 2022.

The company has posted net profit / (loss) of Rs.477.47 crores for the 6 Months period ended September 30, 2023 as against net profit / (loss) of Rs.338.76 crores for the 6 Months period ended September 30, 2022.

The company has reported EPS of Rs.2.28 for the 6 Months period ended September 30, 2023 as compared to Rs.1.62 for the 6 Months period ended September 30, 2022.

Financials	Half Year Ended FY2024	Half Year Ended FY2023	% Change
Total Income	₹4870.54 crs	₹3863.19 crs	26.08%
Net Profit	₹477.47 crs	₹338.76 crs	40.95%
EPS	₹2.28	₹1.62	40.74%

Asset Quality:

Asset Quality	Q2 FY2024	Q1 FY2024	Q2 FY2023
Gross NPA	₹3713.87 crs	₹3803.87 crs	₹3856.13 crs
Gross NPA %	4.96%	5.13%	5.67%
Net NPA	₹1234 crs	₹1325.74 crs	₹1647.13 crs
Net NPA %	1.70%	1.85%	2.51%

Gross NPA was at ₹ 3713.87 crs in Q2 FY2024 against ₹ 3856.13 crs in Q2 FY2023. The same was at ₹ 3803.87 crs in Q1 FY2024.

Net NPA was at ₹ 1234 crs in Q2 FY2024 against ₹ 1647.13 crs in Q2 FY2023. The same was at ₹ 1325.74 crs in Q1 FY2024.

GNPA was at 4.96% of Gross advances as on September 30, 2023 as compared to 5.67% as on September 30, 2022 and 5.13% as of June 30, 2023.

Net NPA was at 1.70% of Gross advances as on September 30, 2023 as compared to 2.51% as on September 30, 2022 and 1.85% as of June 30, 2023.

Ratios	Q2 FY2024	Q1 FY2024	Q2 FY2023
RoA %	0.97%	0.73%	0.85%
CAR (BASEL III) %	16.69%	16.49%	16.04%

Return on Average Assets (RoA) is at 0.97% for Q2 FY2024 against 0.73% in Q1 FY2024 and 0.85% in Q2 FY2023.

In Q2 FY2024, Bank's total Capital Adequacy Ratio (CAR) was at 16.69%, as compared to 16.49% in Q1 FY2024 and 16.04% in Q2 FY2023.

Shares of The South Indian Bank Limited was last trading in BSE at Rs. 26.21 as compared to the previous close of Rs. 25.97. The total number of shares traded during the day was 6189571 in over 5881 trades.

The stock hit an intraday high of Rs. 26.50 and intraday low of 25.51. The net turnover during the day was Rs. 160273831.00.