In the year-ago period, the bank had reported a net profit of Rs 505.49 crore, PNB said in a BSE filing.
The bank's total income increased to Rs 13,020.46 crore during the second quarter ended September 30, 2014, up 11.92 per cent from Rs 11,632.84 crore in the same period last year.
The bank's asset quality deteriorated marginally with gross Non Performing Assets (NPAs) climbing to 5.65 per cent in the quarter under review from 5.48 per cent in April-June quarter.
Shares of PNB were at Rs 929 apiece, down 2.86 per cent from its previous close on the BSE.
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