Punjab National Bank Q3 earnings: key things to know
Upstox
1 min read • Updated: January 25, 2024, 6:25 PM
Summary
Public sector bank reports improvement in asset quality and growth in net interest income.
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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
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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.
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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.
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Provisions set aside for the non-performing assets stood at ₹2,993 crore
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Following the result announcement, the bank's share saw strong traction, rising 2.3% intraday, with a day high of ₹104.65 per share.