PNB Q1 Results: Strong asset quality, 307% increase in net profit

On July 26, Punjab National Bank (PNB) announced that its net profit for the April-June quarter of FY24 increased by 307% to Rs. 1255.41 crore from Rs. 308.44 crore the previous period.

The gross non-performing assets (GNPA) and net non-performing assets (NNPA) of the public-sector lender both decreased from 11.2 percent to 7.73 percent and 1.98 percent, respectively, during this time.

PNB's stock was trading at Rs 61.35 a share at 2 p.m. on the BSE, 1.78 percent higher or lower than the previous day's closing.

Source: Media Reports