Mumbai: Shares of South Indian Bank tumbled 5.5 percent Thursday on weaker-than-expected June quarter numbers.
The stock plunged 5.5 percent to settle at Rs 24.05 on BSE. Intra-day, it dipped 7.26 percent to Rs 23.60.
At the NSE, shares fell by 5.12 percent to end at Rs 24.05.
"Shares of South Indian Bank fell more than 7.2 percent in the day after the bank reported a weaker-than-expected numbers," said Hiren Dhakan, Associate Fund manager, Bonanza Portfolio.
The bank reported over 48 percent decline in net profit at Rs 65.29 crore for the quarter ended June 30.
The lender had posted a net profit of Rs 126.65 crore in the same quarter a year ago.
The bank's gross non-performing assets (NPA) rose to 1.85 percent in the quarter from 1.71 percent in March quarter and 1.50 percent in the year-ago period.
