South Indian Bank has made an exceptional gain of Rs 43 crore on change in depreciation policy during April-June quarter.
South Indian Bank 's first quarter (April-June) net profit was up by 9.75 percent to Rs 126 crore compared to Rs 114.8 crore in same quarter last year. Net interest income rose to Rs 341 crore versus Rs 328 crore, Y-o-Y. The bank's Q1 net NPA was up at Rs 310 crore versus Rs 281.6 crore and gross NPA was up at Rs 517 crore versus Rs 432 crore on sequential basis. The bank has made an exceptional gain of Rs 43 crore on change in depreciation policy. Its Q1 provisions stood at Rs 94.6 crore as against Rs 28.3 crore Q-o-Q and Rs 105.3 crore Y-o-Y.
South Indian Bank 's first quarter (April-June) net profit was up by 9.75 percent to Rs 126 crore compared to Rs 114.8 crore in same quarter last year. Net interest income rose to Rs 341 crore versus Rs 328 crore, Y-o-Y. The bank's Q1 net NPA was up at Rs 310 crore versus Rs 281.6 crore and gross NPA was up at Rs 517 crore versus Rs 432 crore on sequential basis. The bank has made an exceptional gain of Rs 43 crore on change in depreciation policy. Its Q1 provisions stood at Rs 94.6 crore as against Rs 28.3 crore Q-o-Q and Rs 105.3 crore Y-o-Y.
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