South Indian Bank shares fall 5% post Q3 earnings, check details

Shares of South Indian Bank Ltd fell over 5% in the afternoon session today after the lender announced its Q3 earnings. Net profit rose 18% to Rs 342 crore in the last quarter against Rs 305.36 crore in the corresponding quarter of the previous fiscal. Total income climbed 9% to Rs 2,871.96 crore in Q3 against Rs 2636.50 crore in the same period last year. 

The bank earned an interest income of Rs 2,370.74 crore during the quarter against Rs 2184.09 crore in the same period a year ago.

Net interest income rose to Rs 869.2 crore in Q3 against Rs 820 crore in Q3 of FY24.

South Indian Bank stock slipped 5.55% to Rs 25.51 on Tuesday against the previous close of Rs 27.01 on BSE. The banking stock hit a record high of Rs 36.91 on February 2, 2024 and fell to a 52 week low of Rs 22.27 on November 18, 2024.

Earlier, the stock opened higher at Rs 27.15 on BSE. Total 32.38 lakh shares of the firm changed hands amounting to a turnover of Rs 8.58 crore on BSE. Market cap of the bank stood at Rs 6,770  crore on BSE.

South Indian Bank shares have a beta of 1.1, indicating high volatility in a year. The stock has gained 91.45% in a year and risen 160% in three years.

In terms of technicals, the relative strength index (RSI) of the South Indian Bank stock stands at 65.7, signaling it's trading neither in the overbought nor in the oversold zone. South Indian Bank shares are trading higher than the 20 day, 30 day, 50 day 100 day, 150 day but lower than the 5 day, 10 day and 200 day moving averages.      

The bank improved its asset quality in the last quarter. 

Gross Non-Performing Assets (NPAs) slipped to 4.30 per cent of the gross loans by the end of December 2024 from 4.40 per cent a year ago.

Net NPAs fell to 1.25 per cent in Q3 from 1.31 per cent at the end of the third quarter of the previous fiscal.