Shares of Punjab National Bank (PNB) rose significantly on Monday, gaining nearly 7% following the release of the bank’s strong first-quarter financial results for the fiscal year 2024-25. The public sector lender reported a net profit of ₹3,252 crore for the quarter ending June 30, 2024, marking a 159% increase compared to the same period last year.
The bank’s net interest income also saw a notable rise, reaching ₹9,504.3 crore, up 10.2% year-on-year. Additionally, PNB showed improvement in its asset quality, with its gross non-performing asset (NPA) ratio reducing to 4.98% from 5.73% in the previous quarter. The net NPA (NNPA) also declined to 0.82% from 5.73% last year.
As of 1:27 PM, PNB shares were trading 6.88% higher at ₹128.20 on the NSE. This strong performance reflects positive investor sentiment following the bank’s impressive earnings report and improvements in key financial metrics.
