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Punjab and Sind Bank post Rs 301 cr net profit in Q3 versus year-ago loss

Interest margins improve; provisions & contingencies fall sharply

Punjab & Sind Bank
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BS Reporter Mumbai
Punjab & Sind Bank (P&S Bank) posted a net profit of Rs 301 crore for the third quarter ended December 2021 (Q3FY22) as against net loss of Rs 2,376 crore a year ago quarter Q3FY21.

Its net profit was Rs 218 crore in the second quarter ended September 2021 (Q2FY22).

The Delhi-based public sector lender's stock was trading at 1.15 per cent higher at Rs 17.2 per share on BSE.

The bank's Net Interest Income (NII) increased by 23.05 per cent to Rs 758 crore in Q3FY22 as against Rs 616 crore in the quarter ended December 2020 (Q3FY21). Sequentially, NII was up

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