25 Jun 2019 | 10:21 PM

News

COMPANYNEWS
Punj. & Sind Ban posts Q4 net loss of Rs 58.57 cr
  |
Published on 05-24-2019
The bank reported standalone net loss during the quarter stood at Rs 58.57 crore as compared to net loss of Rs 524.62 crore in the previous year quarter.


Interest income of the bank rose by 2.64 per cent at Rs 2018.20 crore for the quarter ended March 31 2019 as against Rs 1966.30 crore in the corresponding period last year.


During the January-March quarter total income rose moderately by 8.59 per cent to Rs 2304.37 crore from Rs 2122.05 crore in the year ago period.


Meanwhile operating expenses dropped by 4.73 per cent to Rs 1900.24 crore from Rs 1994.50 crore in the same period last year.


Operating profit surged 216.84 per cent to Rs 404.13 crore from Rs. 127.55 crore.


Provisions and Contingencies slipped by 28.19 per cent at Rs 433.76 crore from Rs 604.03 crore a year ago.


NII the difference between interest earned on loans and interest paid on deposits slipped by 9.23 per cent at Rs 429.69 crore versus Rs 473.38 crore in the year ago period. Non-interest income rose 83.74 per cent year-on-year to Rs 286.17 crore.


On the asset side gross non- performing assets (NPAs) rose to 11.83 per cent of the gross advances as at the end of March 31 2019 from a level of 11.19 per cent year earlier. Its net NPAs or bad loans too increased to 7.22 per cent of net advances on March 31 2019 from 6.93 per cent a year ago.