Punjab and Sind Bank Q2 net profit falls by 21%

MUMBAI: Punjab and Sind Bank today said its net profit for the July-September period fell by 20.8 per cent to Rs 117.07 crore.

Its net profit over the same quarter a year ago stood at Rs 147.76 crore.

The total income of the state-owned lender grew by 10.2 per cent to Rs 1,885.75 crore in the second quarter from Rs 1,711.27 crore over the corresponding period a year earlier, PSB said in filing to BSE.

However, its income from other sources fell to Rs 87.34 crore in the second quarter from Rs 104.74 crore.

"Net NPA stood at Rs 774.49 crore as on September 30, 2012 against Rs 297.46 crore as on September 30,2011. The net NPA ratio is 1.58 per cent as on September 30, 2012 as against 0.71 per cent as on September 30, 2011," it said.

Its total business stood at Rs 1.15 lakh crore as on September 30, 2012 against Rs 1.03 lakh crore as on September 30, 2011.

PSB scrips settled at Rs 66.20 apiece on the BSE today, down 3.98 per cent from the previous close.