 "PNB reports net loss of Rs 4,750 cr in Q4, asset quality improves")
Punjab National Bank on Tuesday reported a net loss of Rs 4,750 crore for the quarter ended March 31, 2019.
Analysts had projected a net profit within a range of Rs 249.4 crore and Rs 358.5 crore for the recently concluded quarter.
The bank had posted a loss of Rs 13,416.91 crore in Q4FY18.
Net NPA ratio stood at 6.56 per cent against 8.22 per cent in the previous quarter of FY19. Gross NPA ratio came in at 15.5 per cent against 16.33 per cent in the December quarter of FY19.
The provisions for the recently concluded quarter were Rs 7,611 crore against analysts’ expectation of Rs 2,917.9 crore.
The same were Rs 20,353.1 crore in Q4FY18 and Rs 2,753.8 crore in Q3FY19.
Domestic net interest margin was 2.45 per cent against 2.64 per cent QoQ.
At 1:11 pm, shares of PNB were trading 1.06 per cent higher at Rs 90.25 per share on the BSE, against 0.05 per cent drop in the S&P BSE Sensex.
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