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Punjab National Bank Q1 net profit up 2.4 per cent

PTI     July 26, 2013
Punjab National Bank (PNB) has posted a 2.4 per cent rise in net profit to Rs 1,275.32 crore for the first quarter ended June 30.

The state-run bank had a net profit of Rs 1,245.67 crore during April-June quarter of the previous financial year.

In a regulatory filing to the stock exchanges, the bank said total income during the April-June quarter of the current year increased to Rs 11,746.59 crore from Rs 11,721.97 crore in the year-ago period.

However, gross non performing assets (NPA) has gone up from 3.34 per cent in the year-ago period to 4.84 per cent at the end of three months period ended June 30, 2013.

Shares of PNB were trading down 5.94 per cent at Rs 591 apiece on the Bombay Stock Exchange in the afternoon trade.

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