Punjab & Sind Bank (PSB), a public sector bank, has reported a 32 per cent decline in standalone net profit for the quarter ended September 30, 2023, at ₹189 crore (against ₹278 crore in the corresponding quarter last year).

The latest bottomline print was however higher than net profit of ₹153 crore recorded in June 2023 ending quarter. 

For the six months ended September 30, 2023, PSB recorded a net profit of ₹342 crore, which was 29 per cent lower than the net profit of ₹483 crore recorded in the same period last year. 

Total income for the quarter under review increased 26 per cent to ₹2,674 crore (from ₹2,120 crore corresponding quarter last year). It was also higher than the total income of ₹2,494 crore recorded in the June ending quarter, the latest filing with the stock exchanges showed.