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The Thrissur-based South Indian Bank made a net profit of ₹76.30 crore in the second quarter of the 2014-15 financial year, down from the first quarter profits. The net profit for Q1 fell because of the higher provisioning towards restructured advances, the bank said in a press statement. About 50 per cent of the incremental provisioning for the current quarter was of one-time nature. The bank’s net profit for the first half of the financial year is ₹202.95 crore. It had registered growth in business volume, net interest margin and operating profit. The total business, on a year-on-year basis, had increased by ₹6,984 crore (nine per cent) from ₹75,610 crore to ₹82,564 crore, while total deposits rose by ₹3,215 crore (seven per cent), from ₹43,478 crore to ₹46,693 crore.
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