PNB logs a 3-folds jump in Q1 PAT of Rs1,023.5cr on the back of lower provisions

The bank has made provisions of Rs4,678cr in the first quarter of FY22 slightly lower from Rs4,686cr of last year corresponding period.

Aug 03, 2021 04:08 IST India Infoline News Service

State-owned Punjab National Bank (PNB) registered a standalone net profit of Rs1,023.46cr in the quarter ending June 2021 (Q1FY22) logging a 3-folds rise from a profit of Rs308.45cr a year ago same period due to a decline in operating expenses and good recovery.

The lender's total income stood at Rs22,515cr in the quarter under review down from Rs24,292.80cr in the same quarter last year. Interest income slipped to Rs18,921cr in Q1FY22 against Rs20,638cr of Q1FY21.

PNB's gross NPA was at 14.33% in Q1FY22 against 14.12% of Q4FY21 and 14.11% of Q1FY21.

The bank has made provisions of Rs4,678cr in the first quarter of FY22 slightly lower than Rs4,686cr of last year corresponding period.

On Sensex, PNB stock finished at Rs40.30 per piece down by 1%. 

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