New Delhi: State-owned Punjab & Sind Bank has reported over two-fold jump in net profit at Rs 313 crore for the January-March quarter of FY25, helped by decline in bad loans and rise in core income.
The city-based lender had earned a net profit of Rs 139 crore in the year-ago period.
During the quarter, the bank's total income increased to Rs 3,836 crore, from Rs 2,894 crore a year ago, Punjab & Sind Bank said in a regulatory filing on Tuesday late evening.
Interest income grew to Rs 3,159 crore in the reported quarter, from Rs 2,481 crore in the fourth quarter of FY24.
Net Interest Income (NII) in the reported quarter also improved to Rs 1,122 crore, from Rs 689 crore in the same period a year ago.
On the asset quality front, the bank's gross Non-Performing Assets (NPAs) moderated to 3.38 percent of gross advances, as compared to 5.43 percent by the end of March 2024.
Similarly, net NPAs came down to 0.96 percent of the advances, from over 1.63 percent at the end of 2024.
The provision coverage ratio of the bank rose to 91.38 percent as on March 31, 2025 from 88.69 percent a year ago.
The bank's capital adequacy ratio rose to 17.41 percent, from 17.16 percent at the end of FY24.
For the entire financial year 2024-25, the bank reported a 71 percent increase in profit at Rs 1,016 crore, as against Rs 595 crore in the previous year.
The bank's total income during FY25 rose to Rs 13,049 crore, as against Rs 10,915 crore a year ago.
NII rose to Rs 3,784 crore in FY25, from Rs 2,841 crore in the previous year. Net Interest Margin in the year stood at 2.85 percent, as against 2.45 percent for the year ended March 2024.
The bank's board has recommended a dividend of 0.07 paise per equity share of the face value of Rs 10 each for 2024-25 subject to shareholders' approval.
During FY25, total business (deposit and advances) recorded a growth of 11.69 percent to Rs 2,29,379 crore, as compared to Rs 2,05,374 crore at the end of the previous financial year.
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