Punjab & Sind Bank Q3 net profit up 36 pc at Rs 100.1 cr

Punjab & Sind Bank today reported 35.8 per cent increase in net profit at Rs 100.11 crore for the October-December quarter even as its non-performing assets increased.
The state-owned bank had posted net profit of Rs 73.68 crore for the same quarter of 2012-13.
Provisions and contingencies during the quarter declined to Rs 85.37 crore as compared to Rs 147.16 crore in the same quarter a year ago.
The lender's total income in Q3 2013-14 increased to Rs 2,177.58 crore, from Rs 1,983.48 crore in the year-ago period, Punjab & Sind Bank said in a statement.
Its operating profit in Q3, however, decreased to Rs 190 crore, as against Rs 285.97 crore in the year-ago period.

As of December 31, the bank's portfolio quality deteriorated further, with gross NPAs rising to 3.84 per cent of gross advances, as against 2.55 per cent year a year ago.

Its net NPAs during the second quarter rose to 2.68 per cent, from 1.86 per cent in the period a year earlier.
During the three quarters (April-December) of 2013-14, the bank's net profit rose by 23 per cent to Rs 264.78 crore, as against Rs 214.78 crore in same period of 2012-13.
Its total income rose to Rs 6,158.11 crore in the nine months, from Rs 5,713.38 crore in the year-ago period.