Punjab & Sind Bank shares gain 4% post Q4 result

Punjab & Sind Bank shares today rose by over 4 per cent after the company reported a profit of Rs 98.12 crore for the March quarter.
The stock climbed 4.18 per cent to settle at Rs 38.65 on BSE. During the day, it surged 7.81 per cent to Rs 40.
On NSE, shares of the state-run firm closed the day with 3.75 per cent gains at Rs 38.65.
On the volume front, 3 lakh shares of the company changed hands at BSE and over 19 lakh shares were traded at NSE during the day.
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 per cent from 4.76 per cent a year ago.
The bank's net NPAs increased to 4.62 per cent compared with 3.55 per cent at the end of March 2015.
For entire fiscal, the bank's net profit rose threefold to Rs 336 crore compared with Rs 121 crore in the previous year.