 "Punjab & Sind Bank's Q4 net profit up 32%, gross NPAs down to 6.97%")
Punjab & Sind Bank reported a jump of 32 per cent in net profit in the quarter ended March 31, 2023, to Rs 456.99 crore from Rs 346.10 crore in the same quarter in FY22. The bank declared a dividend of Rs 0.48 per equity share.
The bank's gross non-performing assets (GNPAs) fell to 6.97 per cent during the quarter from 8.36 per cent in the previous quarter. The net NPAs were down to 1.84 per cent as compared to 2.02 per cent in the previous quarter.
The bank's interest earnings rose 17.3 per cent to Rs 2,104.94 crore from Rs 1,793.29 crore in the same quarter in FY22.
In FY23, the net profit was up 26.3 per cent to Rs 1,313.03 crore from Rs 1,039.05 crore in FY22.
The shares of the bank closed 3.84 per cent in the green on Tuesday at Rs 37.35 per share.
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