PSU Banks Q3 Result: Public sector banks have earned a total net profit of Rs 29,175 crore in the December quarter of the current financial year.
PSU banks Q3 Result: In the December quarter, BOM’s profit increased by 139 percent to Rs 775 crore. In the first nine months (April-December) of the financial year 2022-23, public sector banks have earned a net profit of Rs 70,166 crore, which is 43 percent higher than Rs 48,983 crore a year ago
PSU banks Q3 Result: Public sector banks have earned a total net profit of Rs 29,175 crore in the December quarter of the current financial year. This is 65 percent more than the same period a year ago. Bank of Maharashtra (BOM) has been the best performer among these banks. In the December quarter, BOM’s profit increased by 139 percent to Rs 775 crore. Thus BOM has registered the highest profit growth among public sector banks. Apart from this, Kolkata-based UCO Bank (UCO Bank) is at number two which earned a profit of Rs 653 crore in the third quarter. This is 110 percent more than the profit of the third quarter of the last financial year.
The profit growth of these banks is also more than 100 percent.
Union Bank of India and Indian Bank have also been successful in achieving more than 100 percent profit growth in the quarter. Mumbai-based Union Bank of India posted a net profit of Rs 2,245 crore, up 107 percent over the year-ago period. Chennai-based Indian Bank’s profit also rose 102 percent to Rs 1,396 crore.
65 percent increased profit
In the third quarter of the current financial year, all 12 public sector banks earned a total profit of Rs 29,175 crore. In the same period a year ago, this figure was Rs 17,729 crore. In this way, a 65 percent increase has been recorded in the combined profits of these banks.
70,166 crore profit in nine months
In the first nine months (April-December) of the financial year 2022-23, public sector banks earned a net profit of Rs 70,166 crore, which is 43 percent higher than Rs 48,983 crore a year ago. Public sector banks posted a profit of around Rs 15,306 crore in the first quarter of the current financial year, which increased to Rs 25,685 crore in the September quarter and Rs 29,175 crore in the December quarter.
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