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South Indian Bank Q3 2024 Earnings Highlights:
➡️Total Income: Rs 2,636.23 crore (YoY: Rs 1,863.87 crore)
➡️Total Expense: Rs 2,152.74 crore (YoY: Rs 1,660.28 crore)
➡️ Profit: Rs 305.38 crore (YoY: Rs 103.01 crore)
➡️NII is down 0.7% at ₹819 cr vs ₹825 cr (YoY)
➡️Gross NPA at 4.74% vs 4.96% (QoQ)
➡️Net NPA at 1.61% vs 1.70% (QoQ)
In the third quarter of fiscal year 2024, South Indian Bank showcased robust financial performance.
The total expense for Q3 2024 amounted to Rs 2,152.74 crore, marking an increase from Rs 1,660.28 crore in the same period last year.
Despite the higher expenses, the bank managed to secure a commendable net profit of Rs 305.38 crore, displaying a notable improvement from Rs 103.01 crore in the previous year.
Disclaimer : This is not an investment advice and this is not an investment recommendation.
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Top 10 Stocks to watch Today
HDFC Bank: India’s largest private sector lender registered a 2.5% sequential growth in net profit at ₹16,372.54 crore for the December quarter, partly affected by higher bad loan provisions. Net interest income grew by 4% sequentially to ₹28,471 crore during the quarter.
Piramal Pharma: Piramal Critical Care, a division of Piramal Pharma, announced the launch of a new concentration of zinc sulfate injection in the US market. The launch will allow PCC to expand its existing zinc sulfate injection product line and overall generics injectables portfolio.
L&T Technology Services: The company reported net profit of ₹336.2 crore for the December quarter, up 6.6% from a year ago. Revenue from operations rose 1.5% sequentially to ₹2,421.8 crore.
Godrej Properties: The company acquired an additional acre of land in Yeswantpur in Bengaluru. The land could yield nearly 1.4 lakh square feet of saleable area.
IREDA: The company has signed an MoU with Indian Overseas Bank for co-lending and loan syndication for renewable energy projects.
DCB Bank: The RBI has approved the appointment of Praveen Achuthan Kutty as MD & CEO of the bank from 29 April.
TV18 Broadcast Ltd: TV18 posted a 5% on-year decline in consolidated revenue at ₹1,676 crore for the December quarter. Revenue from the news segment surged 23% with strong advertising-revenue growth.
ICICI Securities: The company reported 66.6% year-on-year growth in standalone profit at ₹465 crore for the December quarter, backed by a healthy topline and operating performance. Revenue from operations grew by 50.5%to ₹1,322.4 crore from a year ago.
Adani Energy Solutions: The company said its transmission and smart metering business maintained 99.67% system availability in Q3 and added 302 ckms to the operational network.
ICICI Lombard: The company registered 22.4% year-on-year growth in net profit at ₹431 crore for the December quarter, while the gross direct premium income increased by 13.4% to ₹6,230 crore.
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Good morning Traders. 🙌
So It was my niece's wedding so didn't trade for 2 sessions.
Back from today 🔥
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I waited for price action to confirm a reversal and took the trade with a small SL.
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Repost from Stock News India
Polycab tanks 15% as I-T dept finds Rs 1,000-crore as unaccounted sales
https://www.business-standard.com/markets/news/polycab-tanks-15-as-i-t-dept-finds-rs-1-000-crore-as-unaccounted-sales-124011100133_1.html
