Stock Report

Punjab and Sind Bank Ltd reports net profit of Rs. 373.24 crores in Q3FY23

Posted On : 2023-01-21 16:05:49( TIMEZONE : IST )

Punjab & Sind Bank has reported Standalone financial results for the period ended December 31, 2022.

Financial Results (Q3 FY2023) - QoQ Comparison

The company has reported total income of Rs. 2245.07 crores during the period ended December 31, 2022 as compared to Rs. 2120.17 crores during the period ended September 30, 2022.

The company has posted net profit / (loss) of Rs. 373.24 crores for the period ended December 31, 2022 as against net profit / (loss) of Rs. 278.10 crores for the period ended September 30, 2022.

The company has reported EPS of Rs. 0.55 for the period ended December 31, 2022 as compared to Rs. 0.41 for the period ended September 30, 2022.

Financials	Q3 FY2023	Q2 FY2023	% Change
Total Income	₹2245.07 crs	₹2120.17 crs	5.89%
Net Profit	₹373.24 crs	₹278.10 crs	34.21%
EPS	₹0.55	₹0.41	34.15%

Financial Results (Q3 FY2023) - YoY Comparison

The company has reported total income of Rs.2245.07 crores during the period ended December 31, 2022 as compared to Rs.2042.03 crores during the period ended December 31, 2021.

The company has posted net profit / (loss) of Rs.373.24 crores for the period ended December 31, 2022 as against net profit / (loss) of Rs.300.82 crores for the period ended December 31, 2021.

The company has reported EPS of Rs.0.55 for the period ended December 31, 2022 as compared to Rs.0.74 for the period ended December 31, 2021.

Financials	Q3 FY2023	Q3 FY2022	% Change
Total Income	₹2245.07 crs	₹2042.03 crs	9.94%
Net Profit	₹373.24 crs	₹300.82 crs	24.07%
EPS	₹0.55	₹0.74	-25.68%

Financial Results (9 Months Ended FY2023) - YoY Comparison

The company has reported total income of Rs.6280.71 crores during the 9 Months period ended December 31, 2022 as compared to Rs.6047.29 crores during the 9 Months period ended December 31, 2021.

The company has posted net profit / (loss) of Rs.856.04 crores for the 9 Months period ended December 31, 2022 as against net profit / (loss) of Rs.692.95 crores for the 9 Months period ended December 31, 2021.

The company has reported EPS of Rs.1.26 for the 9 Months period ended December 31, 2022 as compared to Rs.1.71 for the 9 Months period ended December 31, 2021.

Financials	9 Months Ended FY2023	9 Months Ended FY2022	% Change
Total Income	₹6280.71 crs	₹6047.29 crs	3.86%
Net Profit	₹856.04 crs	₹692.95 crs	23.54%
EPS	₹1.26	₹1.71	-26.32%

Asset Quality:

Asset Quality	Q3 FY2023	Q2 FY2023	Q3 FY2022
Gross NPA	₹6499.91 crs	₹7128.45 crs	₹9635.75 crs
Gross NPA %	8.36%	9.67%	14.44%
Net NPA	₹1469.14 crs	₹1528.49 crs	₹1773.06 crs
Net NPA %	2.02%	2.24%	3.01%

Gross NPA was at ₹ 6499.91 crs in Q3 FY2023 against ₹ 9635.75 crs in Q3 FY2022. The same was at ₹ 7128.45 crs in Q2 FY2023.

Net NPA was at ₹ 1469.14 crs in Q3 FY2023 against ₹ 1773.06 crs in Q3 FY2022. The same was at ₹ 1528.49 crs in Q2 FY2023.

GNPA was at 8.36% of Gross advances as on December 31, 2022 as compared to 14.44% as on December 31, 2021 and 9.67% as of September 30, 2022.

Net NPA was at 2.02% of Gross advances as on December 31, 2022 as compared to 3.01% as on December 31, 2021 and 2.24% as of September 30, 2022.

Ratios	Q3 FY2023	Q2 FY2023	Q3 FY2022
RoA %	1.11%	0.84%	0.98%
CAR (BASEL III) %	15.57%	15.68%	17.82%

Return on Average Assets (RoA) is at 1.11% for Q3 FY2023 against 0.84% in Q2 FY2023 and 0.98% in Q3 FY2022.

In Q3 FY2023, Bank's total Capital Adequacy Ratio (CAR) was at 15.57%, as compared to 15.68% in Q2 FY2023 and 17.82% in Q3 FY2022.

Shares of Punjab & Sind Bank was last trading in BSE at Rs. 31.90 as compared to the previous close of Rs. 31.90. The total number of shares traded during the day was 71279 in over 389 trades.

The stock hit an intraday high of Rs. 32.15 and intraday low of 31.60. The net turnover during the day was Rs. 2278868.00.