South Indian Bank slumped 5.89% to Rs 23.95 at 9:30 IST on BSE after net profit declined 48.44% to Rs 65.29 crore on 1% growth in total income to Rs 1480.51 crore in Q1 June 2015 over Q1 June 2014.
The Q1 result was announced after market hours yesterday, 15 July 2015.
Meanwhile, the S&P BSE Sensex was up 127.62 points or 0.45% at 28,325.91.
On BSE, so far 3.95 lakh shares were traded in the counter as against average daily volume of 5.91 lakh shares in the past two weeks.
The stock hit a high of Rs 24.05 and a low of Rs 23.60 so far during the day.
South Indian Bank's provisions and contingencies dropped 15.97% to Rs 79.51 crore in Q1 June 2015 over Q1 June 2014.
The bank's ratio of gross non-performing assets (NPAs) to gross advances stood at 1.85% as on 30 June 2015 as against 1.71% as on 31 March 2015 and 1.5% as on 30 June 2014. The ratio of net NPA to net advances stood at 1.21% as on 30 June 2015 as against 0.96% as on 31 March 2015 and 0.91% as on 30 June 2014.
The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 11.46% as on 30 June 2015 as against 12.06% as on 31 March 2015 and 12.19% as on 30 June 2014.
South Indian Bank is a private sector bank in India.
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