PNB Gilts hits the roof after turnaround Q4 show

PNB Gilts hits an upper circuit of 20% at Rs 33.70 after the company reported a net profit of Rs 99 crore in Q4 March 2020 compared with net loss of Rs 7.70 crore in Q4 March 2019.

Total revenue from operations jumped 88.9% to Rs 276.07 crore in Q4 FY20 over Q4 FY19. The company's interest income grew 44.9% to Rs 208.42 crore during the quarter. Net gain on securities surged to Rs 66.27 crore in Q4 FY20 as against Rs 1.58 crore in Q4 FY19.

Profit before tax stood at Rs 132.06 crore in the fourth quarter, soaring 487.72% from Rs 22.47 crore in the corresponding period last year. Current tax expenses were at Rs 33.15 crore in Q4 FY20 as against Rs 3.66 crore in Q4 FY19.

PNB Gilts trades in government dated securities, treasury bills, bonds of sector enterprises, government guaranteed bonds, and state government securities. The company also deals with money market operations, including call/notice and term money, short term borrowing, bill discounting, and certificates of deposit.

Powered by Capital Market - Live News