Amid renewed buying interest, shares rose sharply in Monday’s intraday session, surging 19.32%, marking their biggest single-day rise in 37 months, to hit a fresh all-time high of ₹38.40 apiece on the back of a sharp surge in volumes.
In today’s trade, a total of 238 million shares changed hands on both the NSE and BSE as of 1:30 p.m., marking a substantial 8-fold rise from the stock’s average weekly volume of 29 million shares.
The rally came after the stock had remained muted following the release of the bank’s September quarter results. Today’s surge has also lifted the stock’s total gains to 34%, its largest jump since October 2022.
South Indian Bank September quarter performance
The private sector lender last week reported its highest ever quarterly net profit of ₹351 crore, an 8% YoY surge as compared to 325 crore in the same period last year.
Although the bank’s net interest income (NII) came in lower, a rise in non-interest income and a sharp decline in provisions supported the bottom-line performance.
The bank’s core NII declined 8% to ₹808 crore, despite a 10% loan growth, owing to a significant compression in net interest margin (NIM). NIM dropped to 2.80%, from 3.24% a year ago. The bank’s MD & CEO, P. R. Seshadri, said the lender aims to raise the NIM to 3%, though he did not specify a timeline for achieving it.
Meanwhile, non-interest income rose 26% year-on-year to ₹516 crore, which helped offset the margin pressure. Provisions and contingencies declined 43% year-on-year to ₹63 crore, further aiding profit growth.
The bank’s gross non-performing asset (GNPA) ratio improved to 2.93%, down from 4.40% in the year-ago period and 3.15% in the previous quarter.
While announcing the results, Mr. P. R. Seshadri said the bank’s well-defined strategy continues to underpin its strong business performance. The lender recorded healthy growth across all major segments—including corporate, MSME, housing, auto, and gold loans—while maintaining a steadfast focus on asset quality.
He further noted that, in line with the bank’s strategy of pursuing profitability through quality credit growth, South Indian Bank continued to onboard new advances with a low-risk profile. This approach, he added, reflects the bank’s commitment to sustainable growth, prudent risk management, and long-term value creation for all stakeholders.
South Indian Bank share price trend
South Indian Bank shares regained strength in March 2025, advancing around 70% as the stock recovered from a 13-month period of weakness.
In the current year so far, the shares have gained 55.4%, and if the momentum is sustained, 2025 could mark the bank’s fourth consecutive year of annual gains.
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