1. Punjab National Bank Q3 earnings: key things to know

Punjab National Bank Q3 earnings: key things to know

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Upstox

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1 min read • Updated: January 25, 2024, 6:25 PM

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Summary

Public sector bank reports improvement in asset quality and growth in net interest income.

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PNB Q3 net profit stood at ₹2,432 crore
  • Public sector lender announced a robust Q3 earnings number. Its consolidated net profit jumped three times, while net interest income saw double-digit growth. Here are complete details

  • Punjab National Bank’s Q3 net profit stood at ₹2,432 crore compared to net profit of ₹708 crore. Meanwhile, interest earned was at ₹27,851 crore, up 22% YoY.

  • Gross NPA stood at 6.24% vs 6.96% in the previous quarter, while net NPA was at 0.96% compared to 1.47% in September quarter, indicating improvement in asset quality.

  • Provisions set aside for the non-performing assets stood at ₹2,993 crore

  • Following the result announcement, the bank's share saw strong traction, rising 2.3% intraday, with a day high of ₹104.65 per share.