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Home STOCKS Punjab & Sind Bank Q4 success: Loss widens to Rs 236 crore

Punjab & Sind Bank Q4 success: Loss widens to Rs 236 crore

Punjab & Sind Bank on Tuesday noted widening of loss to Rs 236.30 crore for the fourth quarter of 2019-20 as provisions for negative financial loans rose. The public sector bank had posted a loss of Rs 58.57 crore in January-March, 2018-19.
Whole profits declined to Rs 2,289.43 crore in the a few months to March in opposition to Rs 2,304.37 crore in the 12 months-back interval, Punjab & Sind Bank stated in a regulatory filing.
For the duration of the quarter, the bank gained an operating profit of Rs 429.75 crore as in opposition to Rs 404.13 crore in the identical period of time of the prior fiscal.
On the assets high quality front, gross non-accomplishing assets (NPAs) rose to 14.18 for each cent of gross developments at the conclusion of March 2020, as against 11.83 per cent by the similar time period past calendar year.
Net NPAs also elevated to 8.03 for every cent as from 7.22 for each cent in the year-in the past interval.
As a outcome of this, provisions for undesirable financial loans for the duration of the March quarter a lot more than doubled to Rs 683.80 crore, compared to Rs 312.09 crore in the yr-back time period.
Provision other than tax and contingencies much too declined to Rs 817.83 crore from Rs 433.76 crore in the identical period of time a yr in the past.
In the full fiscal, the bank’s loss improved Rs 990.80 crore, as in opposition to Rs 543.48 crore in 2018-19. Whole money during the 12 months declined to Rs 8,826.92 crore from Rs 9,386.95 crore a calendar year before.
Interest Revenue of the bank too arrived down to Rs 7,929.53 crore in 2019-20 from Rs 8,558.67 crore in the preceding financial 12 months.


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