Punjab National Bank Limited (PNB)'s net profit for the quarter ended 30 June, 2021, zoomed 232% to ₹1,023 crore, it said on Monday. The lender had posted a net profit of ₹308 crore in the year-ago period.
The lender's Net Internet Income (NII) rose 6.5% to ₹7,226 crore as against ₹6,782 crore in the year-ago period.
PNB's gross NPA marginally rose to 14.33% from 14.12% QoQ while the net NPA came at 5.85% as against 5.73% in the previous quarter (Q4F21).
On the bank's quarterly performance amid Covid-19, the lender stated, "The extent to which the COVID-19 pandemic will impact the Bank's results will depend on future developments, which are highly uncertain including among other things, the success of vaccination drive. The major identified challenges for the Bank would arise from eroding cash flows and extended working capital cycles. The Bank is gearing itself on all the fronts to meet these challenges."
On Monday, PNB's scrip on BSE closed 3.54% higher at ₹40.90.
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PNB Q1 results: Net profit zooms 232% YoY to ₹1,023 cr - Mint
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