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PNB’s Q1 net profit declines 57%

28 Jul 2016 Evaluate

Punjab National Bank (PNB) has reported results for first quarter ended June 30, 2016.

The bank has reported a fall of 57.49% in its net profit at Rs 306.36 crore for the quarter ended June 30, 2016 as compared to Rs 720.71 crore for the same quarter in the previous year. However, total income of the bank increased by 3.71% to Rs 13930.00 crore for the quarter under review, from Rs 13432.05 crore for the corresponding quarter of the previous year.

The bank’s gross NPA for the April-June quarter of the current fiscal increased to 13.75%, as compared to 6.47% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 9.16% in Q1FY17.

Peers
Company Name CMP
State Bank Of India 952.80
PNB 114.30
Bank Of Baroda 234.55
Canara Bank 119.00
Union Bank Of India 173.00
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