South Indian Bank Q4 profit nosedives 86.9 pc to 16.3 cr

South Indian Bank today reported 86.9 per cent plunge in net profit at Rs 16.32 crore for the last quarter of 2014-15 as compared to same period of previous fiscal.
The Thrissur-based bank had a net profit of Rs 124.60 crore during the corresponding quarter of 2013-14, South Indian Bank said in a BSE filing.
Total income for the fourth quarter ending March 31, 2015 jumped to Rs 1,444.37 crore, from Rs 1,399.18 crore in the same period of the previous fiscal.
Gross NPAs for the fourth quarter stood at 1.71 per cent as against 1.19 per cent registered during the same period of the previous year.

Net NPA stood at 0.96 per cent as on Mar 31, 2015 against 0.78 per cent during the same period of the previous year.
For the financial year ending March 31, 2015, net profit slipped to Rs 307.20 crore from Rs 507.50 crore registered during the year ago period.
Total income grew to Rs 5,783.29 crore in 2014-15 from Rs 5,383.53 crore registered during the previous year.
The bank also said that its board of directors has recommended a dividend of Rs 0.60 per share (60 per cent) for the year ending Mar 31, 2015 subject to approval of shareholders.