South Indian Bank Q1 Results; Net Profit Climbed 11%:
To begin with, South Indian Bank announced, its net profit of Rs. 82 cr with a gain of 11% on July 11th. While the company also posted its consolidated net profit of Rs. 73 cr in the same quarter last year.
Besides, the company’s total revenue declined by 22% and stood at Rs. 872 cr in this quarter ended on March 31st. The company also posted its revenue of Rs. 718 cr in the same quarter last year.
Furthermore, the company on July 11th reported its Q4FY20 result. The company’s total expenses stood at Rs. 1,651.94 cr with a 15.32% loss in Q4FY20. Similarly, the company also posted its expenses of Rs. 1,950.88 cr in the current quarter last year.
Moreover, its non-performing assets declined to 4.93% of its gross advances on 31st March 2020. Also, its total NPAs declined to 3.09% as against 3.41% in the previous year.
South India Bank Ltd. shares traded with a loss of 0.20 points reached 8.10 INR with 2.41% down. Its previous close at 8.35 INR. The bank shares listed on the National Stock Exchange.
Stock Market Update:
Stock Market July 10th: On Friday, both Sensex and Nifty seem to trade in a bearish trend in the stock market. The Sensex stood traded loss with 36,594.33 levels and Nifty stood traded loss with 10,768.05 levels. The Sensex declined 143.36 points with a 0.39% loss. Besides, Nifty has declined 45.40 points with a 0.42% gain.
On the other hand, the number of confirmed or coronavirus cases in India reached 8,22,603 as of July 11th, and deaths reached 22,144.
In the border market, the S&P BSE Midcap index reported a bearish trend in the stock market yesterday. It declined 96.64 points with a 0.72% loss and reached a 13,396.83 level. The S&P BSE Smallcap index declined 44.46 points with a 0.35% loss and reached a 12,803.78 level. However, the Nifty Bank declined 508.75 points with a 2.22% loss and reached a 22,398.45 level.