Punjab and Sind Bank posts Q4 profit of Rs98 crore1 min read . Updated: 11 May 2016, 01:01 AM IST
Total income during the quarter rose to Rs2,302.27 crore as against Rs2,234.90 crore in the year-ago period
New Delhi: State-run Punjab and Sind Bank on Tuesday reported a profit of ₹ 98.12 crore for the March quarter despite increase in bad loans.
The bank had posted a loss of ₹ 70.24 crore during the corresponding quarter of the previous fiscal.
Total income during the quarter rose to ₹ 2,302.27 crore as against ₹ 2,234.90 crore in the year-ago period.
Gross non-performing assets (NPAs) as a percentage of total advances surged to 6.48% from 4.76% a year ago.
The bank’s net NPAs increased to 4.62% compared with 3.55% at the end of March 2015.
The bank has recommended a dividend of ₹ 1.65 per unit for 2015-16. For the entire fiscal, the bank’s net profit rose threefold to ₹ 336 crore compared with ₹ 121 crore in the previous year.
However, net interest margin improved to 2.22% from 1.80% while net interest income increased to ₹ 2,176 crore from ₹ 1,679 crore, recording a growth of 29.57%.
For the full fiscal, total income increased to ₹ 9,222.82 crore from ₹ 9,017.30 crore.