South Indian Bank's Q2 net profit at Rs111 crore, provisions rise

South Indian Bank reported net profit of Rs 110.52 crore for the second quarter ended September 30, 2016 (Q2FY17), registering growth of 18.35% year-on-year and 16.26% on a quarter-on-quarter basis. 

Net Interest Income (NII) for the quarter, stood at Rs 445.18 crore, rising by 14.63% yoy and 19.14% qoq. 

The bank saw total income of Rs 1596.08 crore this period, growth of 4.57% yoy but declined by 1.51% qoq. 

It's provisions and contingencies stood at Rs 128.33 crore, increasing by 90.20% yoy and 12.46% qoq. 

While gross non-performing assets (NPAs) in Q2FY17, remained muted on quarter-on-quarter basis but expanded by 172 basis point yea-on-year to 3.96%. 

For six months period, the net profit stood at Rs 205.58 crore, up by 29.56% yoy. While NII was at Rs 818.81 crore, registering growth of 12.36% yoy. 

Shares of South Indian Bank on BSE, were trading at Rs 24.95 per share, up by 0.81%.