Punjab & Sind Bank Q1 net profit falls 25% to Rs 153 crore

Public sector lender Punjab & Sind Bank on Saturday reported a 25 per cent decline in net profit to Rs 153 crore for the June 2023 quarter, partly due to the provision of wage revision and fresh slippages. The lender had reported a net profit of Rs 205 crore in the April-June quarter of 2022-23. The total income increased to Rs 2,494 crore in the first quarter of 2023-24 against Rs 1,915 crore a year ago, as per a regulatory filing.

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