Money & Banking

PNB net profit surges 10% to ₹1,405 cr in Q1

PTI New Delhi | Updated on March 12, 2018

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State-owned Punjab National Bank today reported 10 per cent growth in net profit at ₹1,405.12 crore for the April-June quarter of 2014-15.

In the year-ago period, the bank had reported a net profit of ₹1,275.32 crore, PNB said in a regulatory filing to the stock exchanges.

The bank’s total income increased to ₹12,825.13 crore during the first quarter ended June 30 from ₹11,746.59 crore in the same period last year.

The bank’s asset quality deteriorated with gross Non Performing Assets (NPAs) climbing to 5.48 per cent in the quarter under review from 5.25 per cent in January-March quarter.

Besides, net NPAs moved up to 3.02 per cent during the quarter ended June 30 from 2.85 per cent in the preceding three months.

Shares of PNB were trading 0.95 per cent down to ₹919.90 apiece on the BSE.

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Published on July 25, 2014
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