South Indian Bank shares jump 11% on strong Q4 earnings

South Indian Bank’s shares surged by over 11% in intraday trade on Friday due to the company’s Q4 net profit growth of 22.7% YoY, reported at Rs 334 crore, up from Rs 272 crore the previous year. The lender also generated Rs 1,973 crore in interest during the reporting quarter. Besides, provisions and contingencies in the March quarter decreased nearly 50% YoY to Rs 38.99 crore, while gross NPA declined from 5.48% in Q3FY23 to 5.14%. The stock has given a 128% return over a one-year period, with a 52-week high of Rs 21.80 and low of Rs 7.25.