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Punjab & Sind Bank Q3 net profit at Rs 22 cr

Press Trust of India  |  New Delhi 

State-owned & Sind Tuesday reported a net profit of Rs 22 crore in the third quarter ended December 2018.

It had reported a loss of Rs 258 crore in the corresponding period of 2017-18, according to a release by the company.

The bank's total income increased during the quarter to Rs 2,337.13 crore as against Rs 2,178.69 crore in the corresponding period of 2017-18.

Gross non-performing assets (NPAs) rose to 11.19 per cent of the gross advances at the end of the quarter, against 10.95 per cent in the year-ago period.

However, net NPAs declined to 6.90 per cent, compared with 7.20 per cent a year ago.

As a result, provisions for bad loans increased to Rs 453.88 crore during October-December 2018, against Rs 417.51 crore in the third quarter of the previous fiscal.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, February 12 2019. 20:50 IST