South Indian Bank Q1 results show revenue rise from 2317.50 to 2386.06 crores, a 2.96% increase in growth. EPS is down from Rs.1.59 to Rs.0.97, up by -38.99%.
First, Let’s Begin with Quarter-on-Quarter Basis:
South Indian Bank shared its Q1 results on Thursday. They earned 2386.06 crores in revenue this quarter, but that’s more than the 2317.50 crores they made last quarter. The bank’s growth increased by 2.96 percent when comparing the two quarters.
In terms of profits, South Indian Bank Bank’s PAT (Profit After Tax) for this quarter was 202.58 crores, down from 333.53 crores in the previous quarter. Their quarter-to-quarter growth declined by -39.26 percent.
The Bank’s EPS (Earnings Per Share) this quarter is Rs.0.97, which is a decrease of -38.99% from the Rs.1.59 EPS in the previous quarter.
In addition, Bank’s net NPA (Non-Performing Assets) decreased to 1.85% this quarter from 2.87% in the previous quarter, resulting in a 103 basis point decrease in the bank’s net NPA.
Now, Let’s Analyze the Results on a Year-over-Year Basis:
The bank made a total revenue of 2386.06 crores this year (2023), which is 27.73 percent higher than last year’s total revenue of 1868.07 crores.
This Year’s PAT (Profit After Tax) is 202.58 crores, which is also 75.42% higher than last year’s PAT of 115.48 crores.
The EPS (Earnings Per Share) for this year is Rs.0.97, which is 76.36% more than the EPS of Rs.0.55 earned last year.
Bank’s gross NPA (Non-Performing Assets) dropped to 5.13% this year from 5.87% in the previous year, resulting in a decrease of 74 basis points in the bank’s gross NPA.
The CAR (capital adequacy ratio) of the bank increased to 16.49 percent this year from 16.25 percent in the previous year.
The ROA (return on assets) of the bank increased to 0.73 percent in this quarter from 0.46 percent in the previous year.
Also Read: Infosys Q1FY24 Results: Consolidated PAT Rises to Rs. 5945 Cr
South Indian Bank Share Dividend Announcement / Record Date:
The record date for the dividend has not arrived yet.
About South Indian Bank:
South Indian Bank Limited, a prominent private sector bank, has its headquarters in Thrissur, Kerala, India. As of March 31st, 2022, the bank operated a vast network of 935 banking outlets and 1,270 ATMs/CRMs spread across 26 States and 4 Union Territories.
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