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Shares of South Indian Bank on Tuesday surged nearly 17 per cent after the company reported a profit of ₹70.13 crore for the September quarter.
The stock rose by 16.11 per cent to settle at ₹ 14.63 on the BSE. Intra-day, it soared 16.98 per cent to ₹ 14.74.
On the NSE, shares of the company jumped 16.66 per cent to close at ₹ 14.70.
In terms of the equity volume, 202.66 lakh shares of the company were traded on the BSE and over 11 crore shares changed hands on the NSE during the day.
The bank had posted a profit of ₹ 4.32 crore during the July-September 2017 quarter.
As per the regulatory filing of the bank on Monday, the total income of the lender during the second quarter of the current fiscal was ₹1,854.4 crore as against ₹ 1,816.67 crore in the same period in 2017-18.
The bank’s gross non-performing asset (NPA) widened to 4.61 per cent of its assets compared to 3.57 per cent.
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