PNB Gilts shares surge 12% after profit more than triples in June quarter

Shares of investment company, PNB Gilts, rose as much as 12% to hit an intraday high of ₹119.84 on the BSE a day after it reported June quarter earnings. On the National Stock Exchange (NSE), PNB Gilts shares climbed as much as 11.98% to hit an intraday high of ₹119.80.

PNB Gilts on Wednesday reported net profit of ₹160 crore in the first quarter of current financial year marking an increase of 202% from ₹53 crore in the same period last year.

Its total revenue from operations rose 28% annually to ₹563 crore from ₹440 crore in the year-ago period.

PNB Gilts' revenue from fees and commission advanced 81% to ₹2.68 crore at the end of June quarter as against ₹1.48 crore in the corresponding period last year.

The company earned a total of ₹404 crore from interest income in April-June period as against ₹408 crore in the year-ago period and ₹356 crore in the previous quarter.

The company's total expenses in the first quarter declined 5.14% to ₹350 crore compared with ₹369 crore in the year-ago period.

As of 12:10 pm, PNB Gilts shares traded 9.41% higher at ₹117.05, outperforming the BSE SmallCap index which was down 0.46%.