Punjab National Bank (PNB) reported a standalone net profit of Rs 4,508 crore for the quarter ended December 31, 2024 (Q3 FY25), marking a 102% jump from Rs 2,222 crore in the corresponding quarter of the previous year (Q3 FY24). The bank’s quarterly performance was driven by higher total income and controlled provisioning expenses.
Key financial highlights for Q3 FY25 (Standalone):
- Total income: Increased by 16% YoY to Rs 34,751 crore, compared to Rs 29,961 crore in Q3 FY24.
- Interest earned: Stood at Rs 31,339 crore, up from Rs 27,287 crore in Q3 FY24, driven by higher advances.
- Interest expended: Increased to Rs 20,308 crore, up from Rs 16,995 crore in the same period last year, reflecting rising deposit costs.
- Operating profit: Grew to Rs 6,620 crore from Rs 6,330 crore in Q3 FY24, reflecting stable income growth and expense management.
- Provisions (excluding taxes): Declined to Rs 1,315 crore, compared to Rs 2,993 crore in Q3 FY24, contributing to higher profitability.
NPA Position:
- Gross NPAs: Reduced to Rs 45,414 crore from Rs 60,373 crore in Q3 FY24.
- Net NPAs: Fell to Rs 4,437 crore from Rs 8,815 crore.
- Gross NPA ratio: Improved to 4.09% from 6.24% YoY, reflecting better asset quality management.
The bank’s YoY profit growth was driven by improved asset quality, steady growth in interest income, and a significant decline in provisions. On a sequential basis, the net profit saw a marginal improvement from Rs 4,304 crore in Q2 FY25.
PNB’s performance indicates sustained progress in controlling NPAs and enhancing operational efficiency, aligning with sectoral recovery trends.
