The positive outcomes of the Financial Result Updates is seen as CSB stock rose to Rs 256.95 from its average trade price of Rs 247.23. Shareholders stand to gain an approximate 4.21% return in one month.
Catholic Syrian Bank stated that it gained a net profit of Rs 148.25 crore in its December quarterly earnings report, which is a 179.45% hike. This was a QoQ increase of 25% as compared to its previous gain of Rs 118.57 crore. This private sector bank with operations in treasury, corporate banking, retail banking, etc reported its earnings per share to be Rs 8.55 lakh. CSB declared a net income of Rs 579.81 crore, against the Rs 555.64 crore value reported during the previous quarter.
This Kerala-headquartered bank faced losses of 0.10% and 0.20% in the years 2018 and 2019 respectively, as the pandemic furthered the economic crunch. Nonetheless, it caught up with a profit of 0.22% in 2021. In the past 6 months, the promoter and mutual fund holdings of the company have remained static.
With a network of over 560 branches and 390 ATMs across India, CSB Limited is just about a century old, with a customer holding of approximately 1.3 million people. With share listings in both BSE and NSE, the bank went public on December 4th, 2019.
