Punjab National Bank posts record quarterly profit

Shares of Punjab National Bank rose nearly 6 per cent on Monday after the company said it posted its highest-ever quarterly profit of Rs 3,252 crore in the April-June period of fiscal 2025, helped by a decline in bad loans and improvement in interest income.

The stock rose 5.88 per cent to end the day at Rs 126.95 apiece on the BSE. Intraday, it rose 7.42 per cent to Rs 128.80.

On the NSE, the company’s shares rose 5.81 per cent to Rs 126.92 per share.

In terms of volume, during the day, 48.11 lakh shares of the company were exchanged on the BSE, while 1,441.05 lakh shares were exchanged on the NSE.

State-owned PNB Bank reported a net profit of Rs 1,255 crore in the June quarter of fiscal 2024.

Managing Director Atul Kumar Goel said this is the highest quarterly profit in the history of the bank, which is the result of improvement in various parameters, including net interest income, recovery and current and savings account CASA.

Total income during the quarter rose to Rs 32,166 crore from Rs 28,579 crore in the same period a year earlier.

The lender’s interest income also rose to 28,556 rupees from 25,145 rupees in the same quarter a year earlier, according to a regulatory filing on Saturday.

Net Interest Income (NII) rose to Rs 10,476 crore in Q1FY25 from Rs 9,504 crore earlier, an improvement of 10.23 per cent.

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.

Similarly, net non-performing assets fell to 0.60 per cent from 1.98 per cent.

(Based on information from the agency.)