Punjab & Sind Bank Q3 Results: Net profit more than doubles to Rs 282 crore as bad loans decline

New Delhi: State-owned Punjab & Sind Bank on Wednesday reported a more than two-fold jump in its net profit to Rs 282 crore in the December 2024 quarter as bad loans declined. The Delhi-headquartered bank had earned a net profit of Rs 114 crore a year ago.

The bank's total income increased to Rs 3,269 crore during the quarter under review against Rs 2,853 crore in the same period last year, Punjab & Sind Bank said in a regulatory filing.

The interest income also rose to Rs 2,931 crore compared to Rs 2,491 crore in the year-ago period.


On the asset quality front, gross non-performing assets (NPAs) declined to 3.83 per cent of the gross loans by the end of December 2024 from 5.70 per cent a year ago.

Similarly, net NPAs or bad loans came down to 1.25 per cent from 1.80 per cent at the end of the third quarter of the previous fiscal.

The Provision Coverage Ratio (including Technically Written Off) as at December 31, 2024, works out to 89.53 per cent against 88.16 per cent at the end of December 31, 2023.

Capital Adequacy Ratio of the bank moderated to 15.95 per cent compared to 16.13 per cent at the end of December 2023.

During the quarter, the bank raised Rs 3,000 crore by way of issuance of Long Term Infrastructure Bonds on a private placement basis.

The bank has funded exposure of Rs 123.84 crore in two borrower's accounts which are under litigation and respective adjudicating authorities have granted a stay on downgrading, it said, adding that the bank has made adequate provisions for the accounts.