Punjab National Bank second-quarter net profit falls 11.5 percent | Reuters - Firstpost

Punjab National Bank second-quarter net profit falls 11.5 percent | Reuters


MUMBAI Indian state-run Punjab National Bank (PNB) reported on Saturday an 11.5 percent fall in second-quarter net profit, while its bad-loan ratio improved slightly from the previous quarter.Net profit was 5.49 billion rupees ($82.2 million) for the three months to Sept. 30, compared with 6.21 billion rupees a year ago.Analysts, on average, had expected a net profit of 4.84 billion rupees, according to Thomson Reuters data.

Gross non-performing loans as a percentage of total loans fell to 13.63 percent as of end-September, from 13.75 percent at end-June.

($1 = 66.7855 Indian rupees)

(Reporting by Sankalp Phartiyal and Devidutta Tripathy; Editing by Jacqueline Wong)

This story has not been edited by Firstpost staff and is generated by auto-feed.

First Published On : Nov 5, 2016 14:54 IST

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