PNB share trading lower ahead of Q4 earnings, here's what to expect

Punjab National Bank (PNB) share was trading lower ahead of its Q4 and fiscal year earnings set to be announced today. PNB share fell  1.37% to Rs 43.20 against previous close of Rs 43.75 on BSE.

PNB share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has gained 39.03% in one year and risen 30.41% since the beginning of this year.

Market cap of the lender fell to Rs 47,512 crore on BSE. Total 84.32 lakh shares changed hands amounting to turnover of Rs 36.57 crore on BSE.

The share hit 52 week high of Rs 46.40 on February 19, 2021 and 52 week low of Rs 26.30 on October 29, 2020.

Brokerage Sharekhan expects Punjab National Bank to report net profit of Rs 948 crore (up 87.3% quarter-on-quarter).

Net interest income (NII) is expected to rise by 83.5 percent Y-o-Y (up 3.3 percent Q-o-Q) to Rs 8,586 crore. Pre provision profit (PPP) is likely to rise by 62% Y-o-Y (down 0.3 percent Q-o-Q) to Rs 6,372 crore.

Stocks in news: Tata Motors, PNB, ABB Power Products, Anmol India and more

In Q3 of last fiscal, PNB reported a 18.5% fall in net profit at Rs 506 crore against Rs 620.81 crore in the preceding quarter.

It reported a standalone loss of Rs 492.28 crore during the corresponding period of last year (Q3FY20).

PNB's net interest income -- the difference between interest earned through lending and interest paid to depositors -- came in at Rs 8,313 crore in Q3 against net profit of Rs 8,393 crore during the September quarter. NII stood at Rs 4,355 crore during the same period a year earlier (Q3FY20).

PNB said the current results were not comparable with the year-ago period because December quarter 2019-20 figures were of the pre-amalgamated period. With effect from April 1, 2020, PNB merged United Bank of India and Oriental Bank of Commerce with itself following government's merger plan.