Multibagger PSU Bank Under Rs 40 Declares Dividend, Q4 Net Profit Up 32%

Leading PSU bank, Punjab & Sind Bank declared 32% jump in its net profit for the quarter ended March 31, 2023 to Rs 456.99 crore from Rs 346.10 crore declared in the same quarter of FY 2022. The PSB also declared a dividend of Rs 0.48 per equity share for the year ended March 31, 2023. The PSU bank stock has given multibagger returns to investors with 125% return in last 6-months and 132% return in last 1-year.

Punjab & Sind Bank gross non-performing assets or GNPAs tumbled to 6.97% during the quarter from 8.36% in the last quarter. It declared its interest earning soaring 17.3% to Rs 2104.94 crore from Rs 1793.29 crore in the same quarter previous year. For FY23, the net profit rose 26.3% to Rs 1313.03 crore from Rs 1039.05 crore in FY 2022. Check details below:

Punjab & Sind Bank Declares Dividend: According to the BSE filing of the company, "Recommended Dividend of Rs.0.48 per equity share (i.e.4.80%) of face value of Rs.10/- each to the shareholders of the Bank for the year 2022-23, subject to the approval of shareholders at the ensuing Annual General Meeting of the Bank."

Punjab & Sind Bank Stock Performance: The last trading price of the bank stock is Rs 37.35 per share with intraday gain of 3.84%. The stock's 52-week high price is Rs 44.65 per share and 52-week low price is Rs 12.50 per share, respectively. It has a market capitalisation of Rs 25,315.03 crore.

Punjab & Sind Bank Return: The stock gave return of 45% in just 1-month, 125% return in last 6-months, 132% return in last 1-year, 104% return in last 2 years, and 147% return in last 3-years. It jumped 6% in last 5-years.

Punjab & Sind Bank About: It was established in the year 1908. It is a government-owned bank, headquartered at New Delhi, India. Punjab and Sind Bank is a pacemaker in the banking space. It is also a full-service digital bank, empowering millions of people across the length and breadth of the country to access its products and services, according to its LinkedIn page.

Disclaimer: The PSU bank declared net profit and dividend. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.