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Punjab National Bank rallies 3.8% on stellar Q3 earnings

The company reported a over four-fold jump in net profit to Rs 207.18 crore for Q3

SI Reporter  |  New Delhi 

Shares of Punjab National Bank rallied as much as 3.8% on BSE Sensex at intra-day after the company reported a over four-fold jump in net profit to Rs 207.18 crore for the quarter ended December 31, 2016-17, on account of lower provisioning.   The government lender had reported net profit of Rs 51.1 crore for the October-December quarter of the 2015-16 fiscal.   Its gross non-performing assets (NPAs) or bad loans, as a percentage to total advances, rose to 13.70% from 8.47% in the same quarter of last fiscal while net NPAs went up to 9.09% from 5.86% in this quarter, the bank ...

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