South Indian Bank reports14% dip in Q4 profits

(20 second reading) Thrissur-based South Indian Bank reported a 14 per cent fall in net profit to Rs 287.56 crore in the last quarter against Rs 333.89 crore. Operating profit slipped 23% in Q4 to Rs 433.54 crore against Rs 561.55 crore during the Q4 of FY23. However, net interest income in Q4 rose 2 per cent to Rs 874.67 crore in Q4 against Rs 856.18 crore in Q4 of FY23.
The bank reported a 38% rise in net profit to Rs 1,070.08 crore in the last fiscal compared to Rs 775.09 crore in FY 22-23. Operating profit of the lender climbed 24 per cent to Rs 1,867.67 crore in FY24 against Rs 1,507.33 crore in FY23.Gross NPA in Q4 slipped 64 basis points to 4.50 %, Net NPAs fell 40 basis points to 1.46 per cent in Q4 from 1.86 %.