kicks off to a Flying Start with a Solid Net Profit of Rs. 294 Cr. in Q1 of FY 25*
South Indian Bank had declared net profit of Rs. 294 Cr. for Q1 FY 2024-25 registering a growth of 45% compared to Rs. 202 Cr. in Q1 FY 2023-24.
*Mr. Seshadri, MD & CEO* of the Bank, while announcing the results, stated that the strategy adopted by the Bank continues to enable the business performance. During the period, Bank registered growth in all the desired segments with a focus on quality asset across all verticals Corporate, Auto Loan, Credit Card, Gold Loan etc.
*Key Highlights*
o Operating profit for the quarter increased by 3.56% from Rs. 490.24 Cr. in Q1 FY 24 to Rs. 507.68 Cr. in Q1 FY 25
o Net profit of the Bank for quarter is up by 45.36% from Rs.202.35 Cr. in Q1 FY 24 to Rs.294.13 Cr. in Q1 FY 25
o GNPA came down by 63 bps from 5.13% to 4.50% on Y-o-Y basis
o NNPA dropped by 41 bps from 1.85% to 1.44% on Y-o-Y basis
o Net interest income went up from Rs. 807.77 Crore to Rs. 865.77 Crore, registering a growth of 7.18 % on Y-o-Y basis
o Return on Equity improved by 110 bps from 11.80% to 12.90 % Y-o-Y basis
o Return on Assets increased by 27 bps from 0.73% to 1.00% Y-o-Y basis
o PCR excl. write off increased by 390 bps from 65.15% to 69.05% Y-o-Y basis
o PCR including write off increased by 267 bps from 76.54% to 79.22% Y-o-Y basis
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