State-run Punjab & Sind Bank on Tuesday reported a net profit of Rs. 98.12 crore for the March quarter despite the increase in bad loans. The bank had posted a loss of Rs. 70.24 crore during the corresponding quarter of the previous fiscal.
Total income for the quarter rose to Rs. 2,302.27 crore from Rs. 2,234.90 crore in the year-ago period. Gross NPAs as a percentage of total advances surged to 6.48 per cent from 4.76 per cent a year ago. Net NPAs increased to 4.62 percent compared with 3.55 percent at the end of March 2015.
The bank has recommended a dividend of Rs. 1.65 per unit for 2015-16.
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By IndianMandarins - 2016-05-11 11:15:45
State-run Punjab & Sind Bank on Tuesday reported a net profit of Rs. 98.12 crore for the March quarter despite the increase in bad loans. The bank had posted a loss of Rs. 70.24 crore during the corresponding quarter of the previous fiscal.
Total income for the quarter rose to Rs. 2,302.27 crore from Rs. 2,234.90 crore in the year-ago period. Gross NPAs as a percentage of total advances surged to 6.48 per cent from 4.76 per cent a year ago. Net NPAs increased to 4.62 percent compared with 3.55 percent at the end of March 2015.
The bank has recommended a dividend of Rs. 1.65 per unit for 2015-16.
