{"id":117583,"date":"2024-01-18T13:56:55","date_gmt":"2024-01-18T08:26:55","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=117583"},"modified":"2024-01-18T13:57:01","modified_gmt":"2024-01-18T08:27:01","slug":"bank-stock-jumps-8-after-it-announces-196-yoy-increase-in-net-profits","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/bank-stock-jumps-8-after-it-announces-196-yoy-increase-in-net-profits\/","title":{"rendered":"Bank stock jumps 8% after it announces 196% YoY increase in net profits"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4070714749\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>One of the leading private sector bank share prices hit its 52-week high of \u20b929.89 per share from its previous close of \u20b928.38 after the company announced its quarterly results.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3325766826\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>In the exchange filing, the <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/SOUTHBANK\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">South Indian Bank Ltd<\/a><\/strong> announced its financial result for the quarter ended 31 December 2023.\u00a0<\/p><p>Looking at their financial performance their net revenue rose by by 15% year over year, from \u20b91,898 crore in Q3FY23 to \u20b92,184 crore in Q3FY24. Their revenue rose by 2.5% sequentially from \u20b92,129 crore in Q2FY24 to the current levels.&nbsp;<\/p><p>Additionally, the company&#8217;s net profit spiked by 196% from \u20b9103 crores in Q3FY23 to \u20b9305 crores in Q3FY24. The company&#8217;s quarterly profit increased by 11% from \u20b9274 crore in Q2FY24 to current levels.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2562365996\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Furthermore, as of January 20, 2024, South Indian Bank Ltd revised its Marginal Cost of Funds Based Lending Rates (MCLR) by up to 10 basis points for overnight, one-month, and three-month MCLRs and 5 basis points for six-month and one-year MCLR, according to a filing on January 16, 2023.&nbsp;<\/p><p>South Indian Bank Ltd is a small-cap company with a market capitalization of \u20b96,300 crores, the share price of the company rose 28% in the last six months and 59% in the last years.&nbsp;<\/p><p>In comparison to its peer company, the company has a low price-to-earnings ratio of 6, a low price-to-book value ratio of 0.94, a 10% net profit margin, a 12% return on equity, and a 5% return on capital employed.&nbsp;<\/p><p>The majority of the shares are held by the general public 79%, with foreign institutional investors holding 15% and domestic institutional investors holding 6%.&nbsp;<\/p><p>South Indian Bank offers retail and corporate banking, as well as para-banking services such as debit cards and third-party financial product distribution, in addition to Treasury and Foreign Exchange business.&nbsp;<\/p><p><strong>Written by Sriram KV&nbsp;<\/strong><\/p><div class=\"trade-content-10\" id=\"trade-2623489626\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-1366457565\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>One of the leading private sector bank share prices hit its 52-week high of \u20b929.89 per share from its previous close of \u20b928.38 after the company announced its quarterly results.&nbsp; In the exchange filing, the South Indian Bank Ltd announced its financial result for the quarter ended 31 December 2023.\u00a0 Looking at their financial performance [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":39466,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[9111,16064,9110,948,936],"class_list":["post-117583","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-south-indian-bank-latest-news","tag-south-indian-bank-q3-results-fy24","tag-south-indian-bank-share-price","tag-stock-market","tag-stock-market-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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