Punjab & Sind Bank’s Shares Jump Above 7% After Reporting Strong Q3 Profit Surge

Punjab & Sind Bank share price saw a significant jump above 7% in Thursday’s trade, reaching an intraday high of ₹52 per share. The rally was driven by the bank’s strong Q3FY25 performance, where its net profit more than doubled, rising to ₹282 crore for the quarter ending December 2024.

Impressive Financial Results

For Q3FY25, the bank reported a 147% increase in net profit, which stood at ₹282 crore, up from ₹114 crore in the same quarter of the previous year. Total income for the bank also rose by 14.5%, reaching ₹3,269 crore compared to ₹2,853 crore in Q3FY24. The bank’s interest income increased to ₹2,931 crore, up from ₹2,491 crore last year.

Improved Asset Quality

Punjab & Sind Bank saw significant improvement in its asset quality. Gross non-performing assets (NPAs) decreased to 3.83% of gross loans from 5.70% a year ago, while net NPAs dropped to 1.25% from 1.80% during the same period. The Provision Coverage Ratio (including Technically Written Off) also improved to 89.53% as of December 31, 2024, compared to 88.16% in the previous year.

Capital and Fundraising

The bank’s Capital Adequacy Ratio stood at 15.95% by December 2024, slightly down from 16.13% a year earlier. During the quarter, the bank raised ₹3,000 crore through the issuance of Long Term Infrastructure Bonds.

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