South Indian Bank posted an 18% rise in net profit, reaching Rs 325 crore for the second quarter ending September 2024, compared to Rs 275 crore in the same period last year.
The bank's total income also grew to Rs 2,804 crore, up from Rs 2,485 crore last year. Following this positive performance, the bank's stock surged by 4%, trading at Rs 24.77 per share at 1:30 pm. The strong financials reflect improved growth for the private sector lender.