Punjab & Sind Bank Q3 net profit up 21% at Rs 70 cr

State-run Punjab & Sind Bank today posted a 21.3 per cent increase in net profit at Rs 70.32 crore in the third quarter ended December 2015.
The lender had earned a net profit of Rs 57.95 crore in the October-December quarter of 2014-15.
Total income, however, during the quarter declined marginally to Rs 2,260.56 crore as against Rs 2,266.34 crore a year ago, Punjab & Sind Bank said in a statement.
Operating profit of the bank increased to Rs 298.52 crore as against Rs 161.29 crore in the year-ago period.
Gross NPAs as a percentage to total advances rose to 5.29 per cent from 5.01 per cent in the same quarter a year ago.

Its net NPAs came down to 3.71 per cent from 3.81 per cent at the end of December 2014.
Total provisions, excluding for income tax, rose to Rs 171.56 crore as against Rs 104.93 crore in the year-ago period.