PNB shares drop 3.5 pc post Q4 results

The scrip of Punjab National Bank fell by 3.5 per cent Tuesday even as the company narrowed its loss to Rs 4,750 crore during the fourth quarter of fiscal ended March 2019.

Shares of the company declined 3.47 per cent to close at Rs 86.20 on the BSE. During the day, it plunged 4.59 per cent to Rs 85.20.

At the NSE, shares fell 3.41 per cent to close at Rs 86.20.

In terms of volume, 63.24 lakh shares were traded on the BSE during the day, while over 8 crore shares were traded on the NSE.

The state-owned bank Tuesday reported narrowing of its loss to Rs 4,750 crore during the March quarter.

The scam-hit lender had posted highest ever loss of Rs 13,417 crore in the corresponding January-March period of 2017-18.

The bank's total income during the March quarter of 2018-19 rose to Rs 14,725.13 crore from Rs 12,945.68 crore in the year-ago period.

On the assets front, PNB witnessed improvement as the gross non-performing assets (NPAs) stood at 15.50 per cent of gross advances at the end of March 2019 as against 18.38 per cent at the end of March 2018.