Punjab National Bank’s Q1FY19 revenue has improved by 4.2% yoy to Rs15,072.4cr as against Rs14,468.1cr. NII for the quarter has improved by 21.7% yoy to Rs4,692cr as against Rs3,855cr yoy. The bank has reported net loss of Rs940cr, which was lower than consensus estimates (net loss of ~Rs1,600cr) and against Rs343cr of net profit yoy. The lower net loss was mainly attributed to decline in provisions. Its GNPA for Q1FY19 stood at 18.26% against 18.38% qoq, which has declined by 12bps. NNPA for the quarter came at 10.58% against 11.24% qoq, which has declined by 66bps.
Operating profit of Rs4,190cr (+30% yoy) was largely driven by ~22% yoy growth in NII. The provisions for the quarter came at Rs5,758.1cr as against Rs2,608.7cr yoy, which has improved by 120.7% yoy.
Fresh slippages came in at Rs5,250cr (5.3% annualized, Rs7360cr including debits in existing accounts), while recoveries and upgrades increased sharply to Rs8,440cr.
Its total stressed assets stood at Rs86,900cr as against Rs91,8500cr in 4QFY18.
The management stated that the bank will try to recover Rs20,000cr in H1FY19.
CAR ratio improved to 9.62% (+42bps qoq). Its CAR will further improve to 10.3% after considering the recent capital infusion of Rs2,816cr from the government.
Punjab National Bank is currently trading at Rs. 87.95, down by 2.2 points or 2.44% from its previous closing of Rs. 90.15 on the BSE.
The scrip opened at Rs. 90.95 and has touched a high and low of Rs. 91.60 and Rs. 86.65 respectively. So far 7,90,76,769 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 200 DMA.
Please use the temporary password sent on your email id or mobile no.
Update Mobile no.
Why you need to update your Mobile number ?
By providing verified mobile number we provide more exclusive information in the website.
Update Mobile no.
Terms & Conditions
By clicking on submit button, you authorize IIFL & its representatives & agents to provide information about various products, offers and services provided by IIFL through any mode including telephone calls, SMS, letters etc. . you confirm that laws in relation to unsolicited communication referred in National Do Not Call Registry as laid down by Telecom Regulatory Authority of India will not be applicable for such information/ communication.