South Indian Bank Q4 results: Net profit dips 14% to ₹288 crore; announces 30% dividend

South Indian Bank shares ended the day at ₹29.20, down 5.04% over the previous close on the NSE.

South Indian Bank Q4 results: Net profit dips 14% to ₹288 crore; announces 30% dividend
South Indian Bank Q4 results: Net profit dips 14% to ₹288 crore; announces 30% dividend

South Indian Bank, a private sector bank, on Thursday announced the quarterly results and next dividend for its shareholders. South Indian Bank reported a 13.85% decline in March quarter net profit to ₹287.56 crore against ₹333.89 crore during the previous quarter ended March 2023.

Total Operating Income rose 15.29% to ₹2274.67 crore in the quarter ended March 2024 as against ₹1972.96 crore during the previous quarter ended March 2023.

For the 2023-24 fiscal, net profit rose 38.03% to ₹1070.18 crore in the year ended March 2024 from ₹775 crore in the 2022-23 fiscal. 

Total Operating Income rose 19.07% to ₹8612.80 crore in the year ended March 2024 as against ₹7233.18 crore during the previous year ended March 2023.

South Indian Bank Dividend 2024

South Indian Bank has announced a dividend of ₹0.30 per equity share of face value of ₹1 each (30%) for the financial year ended March 31, 2024.

South Indian Bank Dividend History

South Indian Bank announced a dividend of ₹0.30, as per the BSE website, in August 2023. The private sector bank announced dividends of ₹0.4 and ₹0.25 for 2018 and 2019, respectively, with ex-dates of July 3 and July 9. In the same way, the company announced dividends of ₹0.5 and ₹0.4 in 2016 and 2017, respectively, with ex-dates of June 30 and July 3.

South Indian Bank Share Price

Shares of South Indian Bank were trading trading in red, on the NSE. In contrast to the previous closing of ₹30.75, the shares began in the green at ₹29.40. They were trading at ₹28.65 for the day’s low and ₹31.15 for the intraday high. The stock ended the day at ₹29.20, down 5.04% over the previous close on the NSE.

Ass on May 2, shares of South Indian Bank increased by 0.34% in the previous week. In the previous month, shares have risen by 6.38%. On a year-to-date basis, the shares rose 18.41%. In the last year and two years, the shares have risen, yielding multi-bagger returns of 91.49% and 302.20%, respectively.

Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. MarcaMoney suggests its readers/audience to consult their financial advisors before making any money related decisions.