PNB shares gain nearly 2% after Q3 earnings

Shares of Punjab National Bank today rose nearly 2 per cent after the company reported four-fold jump in net profit to Rs 207 crore for December quarter of the current fiscal.
The scrip gained 1.44 per cent to end at Rs 151.80 on BSE. During the day, it went up by 3.97 per cent to Rs 155.60.
At NSE, shares of the company jumped 1.64 per cent to close at Rs 151.65.
The company's market valuation went up by Rs 457.56 crore to Rs 32,302.56 crore.
On the volume front, 44.48 lakh shares of the company were traded on BSE and over 4 crore shares changed hands at NSE during the day.

State-owned Punjab National Bank today posted four-fold jump in net profit at Rs 207 crore for the December quarter of current fiscal on account of increase in treasury income and decline in cost of deposits.
The bank had reported net profit of Rs 51 crore in the corresponding quarter of last fiscal.
The bank's asset quality, however, deteriorated further as gross non-performing assets (GNPAs) or bad loans hit 13.70 per cent of the gross advances during third quarter of current fiscal, 2016-17, as against 8.47 per cent a year ago.