Punjab & Sind Bank (PSB), on Saturday, reported a 25.36 per cent decline in net profit for the first quarter at ₹153 crore.
The bottomline performance was weighed down by an increase in provision for bad loans at ₹66 crore (₹27 crore).
Total income for the quarter under review grew 30 per cent to ₹2,494 crore. Operating profit was marginally higher at ₹257 crore (₹252 crore).
It maybe recalled that PSB had in the March 2023 quarter recorded net profit of ₹ 457 crore.
For the entire fiscal year 2022-23, PSB had recorded a highest-ever net profit of ₹1,313 crore, up 26.37 per cent.