South Indian Bank Q2 results: Co posts net loss at Rs 187 crore

Kolkata: South Indian Bank posted a net loss of Rs 187 crore in the September quarter as against Rs 65 crore profit in the year-ago period on higher provisions and lower interest income.

The old generation private sector bank's operating profit fell 71% at Rs 112 crore from Rs 391 crore in the same period. Interest income fell to Rs 1647 crore from Rs 1899 crore.

Provisions increased to Rs 362 crore from Rs 303 crore while asset quality worsened. The bank's gross non-performing assets ratio rose to 6.65% at the end of September from 4.87% a year back. Net NPA rose 3.85% from 2.59% over the same period.