PNB Q3 profit jumps over 4-fold to Rs 207 crore on lower bad loan provisioning

The public sector lender's total income increased 4.36 per cent to Rs 14,497.65 crore for the quarter under review, from Rs 13,891.2 crore in the year-ago period

PTI February 07, 2017 13:15:29 IST
PNB Q3 profit jumps over 4-fold to Rs 207 crore on lower bad loan provisioning

New Delhi: Punjab National Bank (PNB) today reported over four-fold jump in net profit to Rs 207.18 crore for the third quarter ended December 31, 2016-17, on account of lower provisioning.

PNB had reported net profit of Rs 51.1 crore for the October-December quarter of the 2015-16 fiscal.

The public sector lender's total income increased 4.36 per cent to Rs 14,497.65 crore for the quarter under review, from Rs 13,891.2 crore in the year-ago period.

PNB Q3 profit jumps over 4fold to Rs 207 crore on lower bad loan provisioning

Reuters

Its gross non-performing assets (NPAs) or bad loans, as a percentage to total advances, rose to 13.70 per cent from 8.47 percent in the same quarter of last fiscal.

Net NPAs went up to 9.09 percent from 5.86 percent at the end of December 2015, the bank said.

Total provisions, excluding tax, made during the third quarter of 2016-17 stood at Rs 2,935.86 crore as against Rs 3,775.53 crore in the year-ago period, down 22.23 percent.

Reacting to the bank's quarterly numbers, PNB's shares were trading 2.44 per cent higher to Rs 153.30 on BSE.

Updated Date:

also read

Market roundup: Sensex falls by 125 points, Nifty ends at 17,585; today's top gainers and losers
Business

Market roundup: Sensex falls by 125 points, Nifty ends at 17,585; today's top gainers and losers

The top gainers of BSE Sensex were Kotak Bank, HDFC Bank, Bharti Airtel, Maruti, and Nestle India. The biggest losers were Tata Steel, SBI, TCS, Hindustan Unilever, and Reliance

Market Roundup: Sensex crosses 59,100 mark, Nifty ends at 17,629; today's top gainers and losers
Business

Market Roundup: Sensex crosses 59,100 mark, Nifty ends at 17,629; today's top gainers and losers

While the Sensex gained 417.96 points to end at 59,141.16, Nifty went up by 110.05 points to end at 17,629.50.

Market roundup: Sensex ends 127 points down, Nifty closes at 17,355; today's top gainers and losers
Business

Market roundup: Sensex ends 127 points down, Nifty closes at 17,355; today's top gainers and losers

While BSE Sensex declined by 127.31 points to end the day at 58,177.76, Nifty 50 suffered a loss of 13.95 points to end at 17,355.30.