Earnings Review
Punjab & Sind Bank net profit more than doubles in Oct-Dec
This story was originally published at 19:15 IST on 15 January 2025
Register to read our real-time news.Informist, Wednesday, Jan. 15, 2025
Please click here to read all liners published on this story
--Punjab & Sind Bank Oct-Dec net profit INR 2.82 bln vs INR 1.14 bln yr ago
--Punjab & Sind Bk Oct-Dec total income INR 32.69 bln vs INR 28.53 bln yr ago
--Punjab & Sind Bk Oct-Dec provisions INR 1.09 bln vs INR 962.9 mln year ago
--Punjab & Sind Bank Apr-Dec net profit INR 7.03 bln vs INR 4.56 bln yr ago
--Punjab & Sind Bk Apr-Dec total income INR 92.13 bln vs INR 80.21 bln yr ago
--Punjab & Sind Bank Basel-III capital adequacy ratio 15.95% as on Dec 31
--Punjab & Sind Bank gross NPA ratio 3.83% as on Dec 31 vs 4.21% quarter ago
--Punjab & Sind Bank net NPA ratio 1.25% as on Dec 31 vs 1.46% quarter ago
--Punjab & Sind Bank provision coverage ratio at 89.53% as on Dec 31
NEW DELHI – The net profit of Punjab & Sind Bank more than doubled in the December quarter, thanks to a low base effect and a rise in interest income.
The bank's net profit jumped 146.7% on year to INR 2.82 billion during Oct-Dec. Sequentially, the profit was up 17.7% from INR 2.40 billion in Jul-Sept. For the nine months ended Dec. 31, the net profit rose to INR 7.03 billion from INR 4.56 billion reported a year ago.
The total income of the bank increased 14.6% on year to INR 32.69 billion.
The bank reported interest income of INR 29.31 billion for Oct-Dec, up 17.7% on year. On the other hand, the bank's other income fell 6.5% on year to INR 3.38 billion. For Apr-Dec, the total income of the bank was INR 92.13 billion, higher than the INR 80.21 billion reported a year ago.
The bank's total expenses increased by 8.1% on year to INR 27.85 billion for Oct-Dec, led by a 13.7% on-year rise in interest expended to INR 19.92 billion. The bank's provisions rose to INR 1.09 billion in Oct-Dec from INR 962.9 million a year ago.
In terms of asset quality, the gross non-performing asset ratio improved to 3.83% as of Dec. 31 from 4.21% a quarter ago. The net non-performing asset ratio fell to 1.25% as of Dec. 31, from 1.46% a quarter ago. The gross non-performing asset ratio was 5.70% as of Dec. 31, 2023, and the net non-performing asset ratio was 1.80%.
The Basel-III capital adequacy ratio fell to 15.95% as of Dec. 31 from 16.89% as of Sept. 30. The provision coverage ratio of the bank was 89.53% as of Dec. 31, compared to 88.56% as of Sept. 30.
Shares of Punjab & Sind Bank ended 3.8% lower Wednesday at INR 46.28 on the National Stock Exchange. End
Reported by Shubham Rana
Edited by Rajeev Pai
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
