PNB shares gain over 3 pc after Q1 results

Shares of Punjab National Bank (PNB) on Friday rose by over 3 per cent after the company posted a standalone net profit of Rs 1,018.63 crore in first quarter of this fiscal.

The scrip gained 2.95 per cent to close at Rs 68 on the BSE. During the day, it jumped 5.29 per cent to Rs 69.55.

On NSE, the shares climbed 3.17 per cent to close at Rs 68.15.

In terms of traded volume, 37.29 lakh shares were traded on the BSE and over five crore shares on the NSE during the day.

The bank had posted a net loss of Rs 940 crore during the corresponding April-June period of 2018-19.

In March 2019 quarter, the bank had registered a net loss of Rs 4,749.64 crore.

Total income rose to Rs 15,161.74 crore during the June quarter of 2019-20, as against Rs 15,072.41 crore in the same quarter of previous fiscal, the bank said in a regulatory filing.

On the assets front, the bank's gross non-performing assets fell to 16.49 per cent of gross advances at end of June 2019, as against 18.26 per cent of gross advances at end of June 2018.

Net non-performing assets or bad loans were at 7.17 per cent as against 10.58 per cent year ago.