PNB Q3 Results: Punjab National Bank of Public Sector has released financial results for the October-December 2024 quarter. During the quarter, the bank’s net consolidated profit increased by more than 106 percent to Rs 4648.60 crore on an annual basis. The profit was Rs 2252.67 crore a year ago. The total consolidated income of the bank increased by more than 15 percent to Rs 35286.43 crore as compared to a year ago, which was Rs 30527.38 crore in the December 2023 quarter.
PNB’s net profit on standalone basis doubled to Rs 4508.21 crore. The income increased to Rs 34751.70 crore. Operating expenses increased to Rs 7823.57 crore.
How much improvement in asset quality
PNB’s gross NPA ratio reduced to 4.09 percent in the December 2024 quarter. It was 6.24 percent a year ago. Similarly, the net NPA ratio was 0.41 percent, which was 0.96 percent in the December 2023 quarter.
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Share boom
On 31 January, Punjab National Bank shares rose by 5.4 percent a day and the price on BSE went up to Rs 101.85. The bank’s market cap has gone up to Rs 1.16 lakh crore. The government has a 70 percent stake in the bank. In the last 2 years, Punjab National Bank shares have gained 87 percent.
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