PNB net profit falls 42% to Rs 755.41 crore

The Punjab National Bank (PNB ) on  Friday reported a 42.14 per cent decline in net profit at Rs 755.41 crore for the quarter ended December 31, 2013.

The state-run lender had recorded a profit of Rs 1,305.62 crore for the quarter ended December 31, 2012.

The total income, however, rose to Rs 11,922.30 crore for the quarter ended December 31, 2013 from Rs 11,499.27 crore during the same period of previous fiscal, a company statement said.

Meanwhile, net non-performing assets (NPA) of the bank declined to 2.8 per cent in the December quarter from 3.07 per cent in the September quarter of this fiscal. Gross NPAs also came down to 4.96 per cent from 5.14 per cent in the September quarter.

PNB shares were trading at Rs 544.05, up 5 per cent from the previous close on the BSE in the afternoon trade.