PNB shares end nearly 1 pc higher after Q1 earnings

Shares of Punjab National Bank (PNB) today ended nearly 1 per cent higher after the company reported a 12.09 per cent increase in net profit during the April-June quarter.
The stock ended at Rs 158.90, up 0.89 per cent on BSE. During the day, it gained 2.85 per cent to Rs 162.
On NSE, shares of the company rose by 0.92 per cent to close at Rs 158.95.
On the equity volume front, 21.55 lakh shares of the company were traded on BSE and over 3 crore shares changed hands on NSE during the day.
The state-owned lender today reported a 12.09 per cent increase in net profit at Rs 343.40 crore during the June quarter, helped by lower provisions for bad loans.

The bank had posted a net profit of Rs 306.36 crore during the corresponding quarter of the previous fiscal.
Total income stood at Rs 14,468.14 crore during the three months to June, up 7.36 per cent, as against Rs 13,475.41 crore a year ago, PNB said in a BSE filing.
Gross non-performance assets (NPAs) as proportion of advances declined marginally to 13.66 per cent compared to 13.75 per cent at June-end last year. Net NPAs also came down to 8.67 per cent, from the earlier 9.16 per cent.