PNB declines after Q1 earnings

Punjab National Bank fell 0.40% to Rs 925 at 12:43 IST on BSE after net profit rose 10.18% to Rs 1405.12 crore on 9.18% increase in total income to Rs 12,825.13 crore in Q1 June 2014 over Q1 June 2013.

The result was announced during trading hours today, 25 July 2014.

Meanwhile, the BSE Sensex was down 139.14 points, or 0.53%, to 26,132.71.

On BSE, so far 3.26 lakh shares were traded in the counter, compared with an average volume of 1.58 lakh shares in the past one quarter.

The stock hit a high of Rs 935 and a low of Rs 907.80 so far during the day. The stock hit a 52-week high of Rs 1,068 on 26 May 2014. The stock hit a 52-week low of Rs 402.20 on 4 September 2013.

The stock had underperformed the market over the past one month till 24 July 2014, falling 4.51% compared with 3.56% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 15.37% as against Sensex's 14.84% rise.

The large-cap company has an equity capital of Rs 362.07 crore. Face value per share is Rs 10.

Punjab National Bank's (PNB) ratio of net non-performing assets (NPAs) to net advances stood at 3.02% as on 30 June 2014, compared with 2.85% as on 31 March 2014 and 2.98% as on 30 June 2013.

The bank's ratio of gross NPAs to gross advances stood at 5.48% as on 30 June 2014, compared with 5.25% as on 31 March 2014 and 4.84% as on 30 June 2013.

Provisions and contingencies fell 13.02% to Rs 927.61 crore in Q1 June 2014 over Q1 June 2013. The provisioning coverage ratio as on 30 June 2014 stood at 60%.

The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 11.52% as on 30 June 2014, compared with 11.52% as on 31 March 2014 and 11.79% as on 30 June 2013.

Government of India holds 58.87% stake in PNB (as on 30 June 2014).

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