South Indian Bank has reported a 22.4 per cent rise in its net profit at Rs.93.38 crore in the second quarter ended September 30, 2015, against Rs.76.30 core in the corresponding period of the previous year, the bank said in a communication to BSE. Total income has improved by 8.5 per cent to Rs.1,526.19 crore from Rs.1,405.95 crore.
In the six months ended September 30, 2015, the bank has posted a lower net profit of Rs. 158.67 crore against Rs.202.95 crore. Total income stood at Rs. 3,006.70 against Rs.2,871.79 crore.
The bank made Rs.67.47 crore towards provisioning and contingencies against Rs.95.71 crore in the quarter under reference.
On the asset front, the non-performing assets (NPAs) went up to 1.39 per cent during the quarter from 0.90 per cent in the corresponding period a year ago.
During the quarter ended September 30, 2015, the bank has raised Rs.300 crore of Basel-III compliant Tier-II capital, it said.
