Punjab National Bank (PNB) saw its shares rise by 4.25% to Rs 100.62 today, driven by robust financial results for the quarter ended December 31, 2024 (Q3 FY25). The bank reported a standalone net profit of Rs 4,508 crore, a 102% year-on-year (YoY) increase from Rs 2,222 crore in Q3 FY24, supported by higher income and reduced provisions.
Key financial highlights for Q3 FY25 (Standalone):
- Total income: Rs 34,751 crore, up 16% YoY from Rs 29,961 crore.
- Interest earned: Rs 31,339 crore, compared to Rs 27,287 crore YoY, driven by higher advances.
- Interest expended: Rs 20,308 crore, up from Rs 16,995 crore due to rising deposit costs.
- Operating profit: Rs 6,620 crore, up from Rs 6,330 crore YoY, reflecting stable income and expense management.
- Provisions (excluding taxes): Declined to Rs 1,315 crore from Rs 2,993 crore, supporting higher profitability.
Asset quality improvement:
- Gross NPAs: Reduced to Rs 45,414 crore from Rs 60,373 crore in Q3 FY24.
- Net NPAs: Declined to Rs 4,437 crore from Rs 8,815 crore.
- Gross NPA ratio: Improved to 4.09% from 6.24%, indicating effective asset quality management.
Stock performance highlights (today):
- Current share price: Rs 100.62, up 4.25%.
- Day range: Rs 96.36 – Rs 101.87.
- Market capitalization: Rs 1.16 trillion.
- 52-week range: Rs 92.40 – Rs 142.90.
PNB’s strong performance, driven by steady growth in interest income and a significant drop in provisions, has fueled positive investor sentiment. The bank remains optimistic about sustaining its profitability momentum amid improving asset quality.
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PNB