South Indian Bank gains after Q4 results

Shares of the South India Bank gained on Monday after the bank posted 26 per cent rise in net profit at Rs.153.83 crore in the fourth quarter.

During the quarter, the net non-performing asset (NPAs) of the bank rose to 0.78 per cent, from 0.28 per cent. Gross NPAs during the quarter rose to 1.36 per cent from 0.97 per cent.

The bank's total income rose to Rs 1,286.37 crore against Rs 1,076.36 crore, the bank said in filing.

The board of directors have recommended a dividend of 70 paise per share for the year ended 31 March 2013.

The bank shares were seen trading at Rs 24.40 higher by 1.88% on the BSE at 2.45 om IST. The stock hit intra-day high of Rs 25.25.

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