Punjab & Sind Bank Q1 profit jumps 48% to ₹269cr
What's the story
State-owned Punjab & Sind Bank has reported a whopping 48% jump in its net profit for the first quarter of FY26. The bank's net profit for the period stood at ₹269 crore, compared to ₹182 crore in the same period last year. The growth is attributed to an increase in core income and a reduction in bad loans or non-performing assets (NPAs).
Financial growth
Total income rises to ₹3,379 crore
Along with the net profit, Punjab & Sind Bank also saw a rise in its total income. For the June 2025 quarter, the bank's total income was ₹3,379 crore, up from ₹2,846 crore in the same quarter of FY25. The bank's operating profit also witnessed a major jump to ₹540 crore from ₹317 crore during this period.
Financial performance
Interest earnings, asset quality improve
Punjab & Sind Bank's interest earnings also improved, reaching ₹2,911 crore compared to ₹2,652 crore in the June quarter of FY25. The bank's asset quality has also improved with gross NPAs declining to 3.34% of gross advances at the end of the June quarter from 4.72% a year ago. Net NPAs or bad loans fell to 0.91%, down from 1.59% in the same period last year.
Financial adjustments
Provisions and contingencies increase
Despite the improvement in asset quality, Punjab & Sind Bank saw an increase in provisions and contingencies. These rose to ₹217 crore during the first quarter from ₹103 crore a year ago. However, the bank's provision coverage ratio (PCR) improved to 92% from 88% in the same period last year. The capital adequacy ratio of the bank also rose to 17.9% from 17.3%.