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South Indian Bank Q3 profit rises 9.6% to Rs 111 crore

Private sector South Indian Bank posted 9.6% increase in net profit to Rs 111.38 crore for the third quarter of 2016-17.

The bank had recorded net profit of Rs 101.63 crore in the October-December quarter of last fiscal, South Indian Bank said in a filing to stock exchanges.

The total income of the lender also increased to Rs 1,737.47 crore during the quarter under review, as against Rs 1,560.98 crore in the year-ago period.

The gross non-performing assets (NPAs) of the bank rose to 3.98% of the total advances during the third quarter, from 2.75% in the same quarter previous fiscal.

Its net NPAs also rose to 2.52% during the quarter, from 1.80% of the total assets in the year- ago period.