South Indian Bank Q2 Results: Stock falls after other income aids profit, interest income drops

Shares of South Indian Bank Ltd. fell as much as 6% from the highs of the day, in response to the lender's results for the July-September period.

Net profit for the period increased by 8.2% from last year to ₹351 crore. The bottomline figure was aided by a 26% increase in the lender's other income to ₹516 crore.

The lender's Net Interest Income, or core income that it earns, declined by 8.3% on a year-on-year basis to ₹809 crore from ₹882 crore during the same quarter last year.

Asset quality saw a marginal improvement compared to the June quarter. Gross NPA stood at 2.93% from 3.15% in June, while Net NPA stood at 0.56% from 0.68% in June.

In absolute terms, South Indian Bank's gross NPA stood at ₹2,703 crore from ₹2,806 crore in June, while Net NPA stood at ₹506 crore from ₹591 crore in the previous quarter.

Provisions for the quarter also fell to ₹63 crore from ₹239 crore in the previous quarter.

South Indian Bank had already disclosed its operating performance for the September quarter earlier this month. Gross advances for the period increased by 9% to ₹92,887 crore, while deposits increased by 10% from last year to ₹1.15 lakh crore.

CASA for the period also increased by 10% year-on-year to ₹36,841 crore, while CASA ratio stood at 31.86% from 31.8% last year.

Shares of South Indian Bank are down 3.1% after the results announcement to ₹31.78. The stock though, has risen 26% so far in 2025.