State-run Punjab & Sind Bank today reported a profit of Rs 98.12 crore for the March quarter despite 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 during the quarter rose to Rs 2,302.27 crore as against Rs 2,234.90 crore in the year-ago period.
Gross NPAs as a percentage of total advances surged to 6.48 percent from 4.76 per cent a year ago.
The bank's net NPAs increased to 4.62 percent compared with 3.55 percent at the end of March 2015.
The bank, meanwhile, has recommended a dividend of Rs 1.65 per unit for 2015-16.
For entire fiscal, the bank's net profit rose threefold to Rs 336 crore compared with Rs 121 crore in the previous year.
However, net interest margin improved to 2.22 percent from 1.80 percent while net interest income increased to Rs 2,176 crore from Rs 1,679 crore, recording a growth of 29.57 percent.
For the full fiscal, total income increased to Rs 9,222.82 crore from Rs 9,017.30 crore.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
