Punjab & Sind Bank Q4 profit more than doubles to ₹313 cr as NPA moderates-OxBig News Network

New Delhi, Apr 30 (PTI) State-owned Punjab & Sind Bank has reported over two-fold jump in net profit at ₹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 ₹139 crore in the year-ago period.

During the quarter, the bank’s total income increased to ₹3,836 crore, from ₹2,894 crore a year ago, Punjab & Sind Bank said in a regulatory filing on Tuesday late evening.

Interest income grew to ₹3,159 crore in the reported quarter, from ₹2,481 crore in the fourth quarter of FY24.

Net Interest Income (NII) in the reported quarter also improved to ₹1,122 crore, from ₹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 per cent of gross advances, as compared to 5.43 per cent by the end of March 2024.

Similarly, net NPAs came down to 0.96 per cent of the advances, from over 1.63 per cent at the end of 2024.

The provision coverage ratio of the bank rose to 91.38 per cent as on March 31, 2025 from 88.69 per cent a year ago.

The bank’s capital adequacy ratio rose to 17.41 per cent, from 17.16 per cent at the end of FY24.

For the entire financial year 2024-25, the bank reported a 71 per cent increase in profit at ₹1,016 crore, as against ₹595 crore in the previous year.

The bank’s total income during FY25 rose to ₹13,049 crore, as against ₹10,915 crore a year ago.

NII rose to ₹3,784 crore in FY25, from ₹2,841 crore in the previous year. Net Interest Margin in the year stood at 2.85 per cent, as against 2.45 per cent 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 ₹10 each for 2024-25 subject to shareholders’ approval.

During FY25, total business (deposit and advances) recorded a growth of 11.69 per cent to ₹2,29,379 crore, as compared to ₹2,05,374 crore at the end of the previous financial year.