 "Punjab & Sind Bank Q4 results: Net profit jumps 32% to Rs 457 crore")
Punjab & Sind Bank net profit jumped 32 per cent year-on-year (YoY) to Rs 457 crore in the January- March quarter (Q4) as its interest income rose by 17 per cent to Rs 2,105 crore.
The bank in its exchange filing on Tuesday mentioned that sequentially net profit of the bank jumped 23 per cent from Rs 373 crore reported in the October-December period.
The public sector bank asset quality showed an improvement with Gross Non-performing Assets (GNPAs) as a percentage of gross advances dropped to 6.97 per cent from 12.17 per cent a year ago. Net NPAs stood at 1.84 per cent from 2.74 per cent a year ago.
The operating profit of the bank grew by 69 per cent to Rs 536 crore in the March quarter (Q4) against Rs 317 crore reported in the previous financial year for the corresponding period.
The bank’s recovery grew by 109 per cent on YoY basis to Rs 1,153 crore in Q4 and its slippage ratio also declined by 13 bps to 0.63.
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