Pnb Q2

Shares of Punjab National Bank (PNB) on Tuesday fell over 6 per cent after the firm reported a 63 per cent decline in standalone net profit for the September quarter.

State-owned Punjab National Bank (PNB) on Tuesday reported a 63 per cent decline in standalone net profit to Rs 411 crore for the September quarter on account of higher provisioning for bad loans.

Punjab National Bank's asset quality showed a slight deterioration in second quarter of current financial year. Its gross non-performing assets stood at Rs 79,458.09 crore in September quarter compared with Rs 77,267.29 crore in June quarter, PNBs exchange filing showed.

The loss was much bigger than an estimated average loss of Rs 1,438 crore based on the views of 13 analysts.

PNB said its net profit rose to Rs 561 crore for the quarter ended September 30, from Rs 549 crore a year earlier.

Its asset quality improved slightly in the September quarter as gross non-performing loans as a percentage of total loans fell to 13.63 per cent as of end-September, from 13.75 per cent at end-June.

State-owned Punjab National Bank reported a 11.5 per cent fall in net profit at Rs 549.36 crore for the second quarter ended September 30 on rise in provisions for bad loans.

Punjab National Bank's gross non-performing assets (bad loans) surged to 8.47 per cent of advances in Q3 against 6.36 per cent in Q2, prompting the lender to double provisions to Rs 3,776 crore in Q3 from Rs 1,882 crore in Q2.

Gross bad loans as a percentage of total loans fell slightly to 6.36 per cent from 6.47 per cent in the previous three months, though higher than 5.65 per cent a year earlier.

PNB's earnings were below street estimates as analysts' polled by NDTV had estimated its net profit at Rs 575 crore on net interest income of Rs 4,417 crore.

Net interest income, the difference between interest earned on advances and paid on deposits, rose to Rs 4,015.5 crore as against Rs 3,649.4 crore in the year ago period, PNB said. However, net profit fell 52.6 per cent year-on-year to Rs 505 crore in the July to September period because of higher provisioning for bad loans.

The BSE Sensex declined 133 points or 0.7 per cent to close at 18,625 on Friday. The broader Nifty slipped 41 points to end at 5,664. Indian markets were weighed down by weak global sentiments and disappointment with some key earnings.

Shares in Punjab National Bank plunged over 5 per cent on Friday after the public sector lender reported disappointing numbers for the July-September quarter. PNB said net profit slipped to Rs 1,065 crore against Rs 1,205 crore a year ago. Net interest income rose to Rs 3,649 crore against Rs 3,453 crore last year.

The country's second-largest public sector lender Punjab National Bank on Tuesday reported a jump of 12.14 per cent in net profit to Rs 1,205.03 crore for the quarter ended September 30, 2011. The lender had posted a net profit of Rs 1,074.54 crore for the July-September quarter of 2010. Total income of the bank rose to Rs 9,840.87 crore...

Shares of Punjab National Bank (PNB) on Tuesday fell over 6 per cent after the firm reported a 63 per cent decline in standalone net profit for the September quarter.

State-owned Punjab National Bank (PNB) on Tuesday reported a 63 per cent decline in standalone net profit to Rs 411 crore for the September quarter on account of higher provisioning for bad loans.

Punjab National Bank's asset quality showed a slight deterioration in second quarter of current financial year. Its gross non-performing assets stood at Rs 79,458.09 crore in September quarter compared with Rs 77,267.29 crore in June quarter, PNBs exchange filing showed.

The loss was much bigger than an estimated average loss of Rs 1,438 crore based on the views of 13 analysts.

PNB said its net profit rose to Rs 561 crore for the quarter ended September 30, from Rs 549 crore a year earlier.

Its asset quality improved slightly in the September quarter as gross non-performing loans as a percentage of total loans fell to 13.63 per cent as of end-September, from 13.75 per cent at end-June.

State-owned Punjab National Bank reported a 11.5 per cent fall in net profit at Rs 549.36 crore for the second quarter ended September 30 on rise in provisions for bad loans.

Punjab National Bank's gross non-performing assets (bad loans) surged to 8.47 per cent of advances in Q3 against 6.36 per cent in Q2, prompting the lender to double provisions to Rs 3,776 crore in Q3 from Rs 1,882 crore in Q2.

Gross bad loans as a percentage of total loans fell slightly to 6.36 per cent from 6.47 per cent in the previous three months, though higher than 5.65 per cent a year earlier.

PNB's earnings were below street estimates as analysts' polled by NDTV had estimated its net profit at Rs 575 crore on net interest income of Rs 4,417 crore.

Net interest income, the difference between interest earned on advances and paid on deposits, rose to Rs 4,015.5 crore as against Rs 3,649.4 crore in the year ago period, PNB said. However, net profit fell 52.6 per cent year-on-year to Rs 505 crore in the July to September period because of higher provisioning for bad loans.

The BSE Sensex declined 133 points or 0.7 per cent to close at 18,625 on Friday. The broader Nifty slipped 41 points to end at 5,664. Indian markets were weighed down by weak global sentiments and disappointment with some key earnings.

Shares in Punjab National Bank plunged over 5 per cent on Friday after the public sector lender reported disappointing numbers for the July-September quarter. PNB said net profit slipped to Rs 1,065 crore against Rs 1,205 crore a year ago. Net interest income rose to Rs 3,649 crore against Rs 3,453 crore last year.

The country's second-largest public sector lender Punjab National Bank on Tuesday reported a jump of 12.14 per cent in net profit to Rs 1,205.03 crore for the quarter ended September 30, 2011. The lender had posted a net profit of Rs 1,074.54 crore for the July-September quarter of 2010. Total income of the bank rose to Rs 9,840.87 crore...