Punjab & Sind Bank reports net loss of Rs 398 cr in Q1
For the entire 2017-18, the bank had posted a net loss of Rs 743.80 crore due to the high proportion of bad loans.
It had reported a net profit of Rs 25.37 crore in the same period a year ago. In the preceding quarter ended March 2018, it had a net loss of Rs 524.62 crore, a dip in losses when compared sequentially.
However, the bank brought down the proportion of soar assets with the gross NPAs falling to 10.55 percent of gross advances as on June 30, 2018, from 11.33 percent in the year-ago corresponding quarter.
Net NPAs were 5.92 per cent (Rs 3,928.81 crore) as against 7.94 per cent (Rs 4,511.40 crore).
A stock of the bank closed 1.34 percent up at Rs 30.15 on the BSE.
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