Punjab National Bank Q3 Results: Net profit rises 103% to ₹4,508 crore, NII up 7%

Punjab National Bank (PNB) on Friday, announcing its financial results for the October-December quarter of the current fiscal (Q3 FY25), posted a standalone net profit of ₹4,508 crore, up 103% from ₹2,222 crore in the year-ago period. On a quarter-on-quarter (QoQ) basis, the bank's net profit grew 5% from ₹4,303 crore in the Q2 FY25.

The bank's net interest income (NII) increased to ₹11,033 crore, up 7.2% year-on-year (YoY) from ₹10,293 crore reported in the previous fiscal.

PNB shares are trading 4.94% up at ₹101.29 on the NSE on Friday, January 31.

Key highlights

• PNB's total income climbed 16% to ₹34,751.7 crore for the reporting quarter as compared to ₹29,961.65 crore in Q3 FY24. Sequentially, it increased marginally by 1% from ₹34,447.10 crore in the September quarter.

• The bank's Gross Non-Performing Assets in the December quarter fell to ₹45,413.98 crore as against ₹60,371.38 crore in the year-ago period. On a QoQ basis, it declined from ₹47,582.25 in Q2 FY25.

• Its Gross NPA Ratio decreased to 4.09% from 4.48% in Q2 FY25 and 6.24% in Q3 FY24.

• Net NPA of the bank fell to ₹4,437.43 crore from ₹4,674.24 crore in the July-September quarter of the current fiscal and from ₹8,815.88 crore in the year-ago quarter.

• The bank's net NPA ratio decreased to 0.41% from 0.66% in Q2 FY25 and 0.96% in Q3 FY24.

• Credit-deposit ratio was at 69.95%, up from 69.24% in the year-ago period.

• Operating profit of the bank increased to ₹6,620 crore for the reporting quarter, up 4.6% from Q3 FY24.