PNB inches up amid volatility after Q4 results

Punjab National Bank rose 0.27% to Rs 74 at 13:02 IST on BSE, with the stock moving higher amid intraday volatility after the bank announced Q4 March 2016 results.

The result was announced during market hours today, 18 May 2016.

Meanwhile, the S&P BSE Sensex was down 96.60 points or 0.37% at 25,677.01.

On BSE, so far 40.42 lakh shares were traded in the counter as against average daily volume of 10.88 lakh shares in the past one quarter. The stock was volatile. The stock surged as much as 4.6% at the day's high of Rs 77.20 so far during the day. The stock lost as much as 2.3% at the day's low of Rs 72.10 so far during the day. The stock had hit a 52-week low of Rs 69.40 on 17 February 2016. The stock had hit a 52-week high of Rs 180.50 on 17 August 2015. The stock had underperformed the market over the past one month till 17 May 2016, sliding 12.71% compared with Sensex's 0.57% rise. The scrip had also underperformed the market in past one quarter, advancing 1.65% as against Sensex's 10.23% rise.

The large-cap state-run bank has equity capital of Rs 392.72 crore. Face value per share is Rs 2.

Punjab National Bank (PNB) reported net loss of Rs 5367.14 crore in Q4 March 2016 compared with net profit of Rs 306.56 crore in Q4 March 2015. Total income declined 1.33% to Rs 13276.19 crore in Q4 March 2016 over Q4 March 2015.

The bank's gross non-performing assets (NPA) stood at Rs 55818.33 crore as on 31 March 2016 compared with Rs 34338.22 crore as on 31 December 2015 and Rs 25694.86 crore as on 31 March 2015. The ratio of gross NPA to gross advances stood at 12.9% as on 31 March 2016 compared with 8.47% as on 31 December 2015 and 6.55% as on 31 March 2015. The ratio of net NPA to net advances stood at 8.61% as on 31 March 2016 compared with 5.86% as on 31 December 2015 and 4.06% as on 31 March 2015.

The bank's provisions and contingencies rose 173.46% to Rs 10485.23 crore in Q4 March 2016 over Q4 March 2015. Provisioning coverage ratio was at 51.06% as on 31 March 2016.

PNB reported net loss of Rs 3974.39 crore in the year ended 31 March 2016 (FY 2016) compared with net profit of Rs 3061.58 crore in the year ended 31 March 2015 (FY 2015). Total income rose 4.01% to Rs 54301.37 crore in FY 2016 over FY 2015.

PNB's board of directors has not declared any dividend as the bank reported net loss in FY 2016.

The Government of India held 62.08% stake in PNB (as per the shareholding pattern as on 31 March 2016).

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