PNB Q1 Results: Net profit more than doubles to Rs 3,252 crore

GNP results for Q1: Punjab National Bank (PNB) on Saturday reported a more than doubling of standalone net profit at Rs 3,252 crore for the quarter ended June of fiscal 2025, led by a decline in bad loans and improvement in interest income.

The state-owned bank reported a net profit of Rs 1,255 million for the same period last year.

Total income for the quarter rose to Rs 32,166 crore from Rs 28,579 crore, PNB said in a regulatory filing.

The lender’s interest income rose to Rs 28,556 crore from Rs 25,145 crore in the same quarter a year earlier.

By June 2024, gross non-performing assets (NPAs) declined to 4.98 per cent of gross advances from 7.73 per cent in the corresponding quarter a year earlier.

Net non-performing assets (NPL) also declined to 0.60 per cent from 1.98 per cent.

As a result, provisions for bad loans came down drastically to Rs 792 crore during April-June period of FY25 as against Rs 4,374 crore in the corresponding period of the previous year.

On a consolidated basis, the bank reported a net profit of Rs 3,976 crore in the quarter under review as compared to Rs 1,342 crore a year earlier.

The bank’s consolidated financial results include five subsidiaries and 15 associated companies.

The bank’s capital adequacy ratio at the end of June 2024 improved to 15.79% compared to 15.54% in the same period of the previous year.