Punjab National Bank (PNB) shares fell sharply by over 4% in intraday trade after the lender announced its Q3 financial results. As of 2:10 PM, the shares were trading 2.97% higher at Rs 128.43.
In Q3, Punjab National Bank reported a year-on-year rise of 13% in net profit, which stood at ₹5,100 crore compared with ₹4,508 crore in the same quarter last year.
Net interest income declined 4.5% year-on-year to ₹10,533 crore from ₹11,032 crore. The contraction in NII reflected lower interest earnings compared with the same period last year and emerged as a key factor influencing market sentiment after the results announcement.
Asset quality showed sequential improvement during the quarter. Gross non-performing assets reduced to 3.19% from 3.45% in the previous quarter, while net NPAs declined to 0.32% from 0.36% on a quarter-on-quarter basis.
At the same time, provisions rose sharply on a quarterly basis. The bank reported provisions of ₹1,151 crore, higher than ₹643 crore in the previous quarter.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
