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PNB net profit drops 70% YoY to Rs 308 crore in April-June quarter

The state-owned lender had reported a Rs 1,023 crore profit in April-June 2021 on account of healthy cash recovery and upgrade of Rs 8,270 crore

PNB, Punjab national bank
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PNB’s total income during April-June 2022 was Rs 21,294 crore as against Rs 22,816 crore a year ago, the lender said in an exchange filing.

Nikunj Ohri New Delhi
Punjab National Bank’s (PNB) standalone net profit plunged 70 per cent year-on-year (YoY) to Rs 308.4 crore in April-June quarter as provisions for bad loans went up. Sequentially, net profit of the Delhi-based lender jumped 53 per cent from Rs 201.5 crore reported in January-March.

To be sure, the state-owned lender had reported a Rs 1,023 crore profit in April-June 2021 on account of healthy cash recovery and upgrade of Rs 8,270 crore. 

PNB’s total income during April-June 2022 was Rs 21,294 crore as against Rs 22,816 crore a year ago, the lender said in an exchange filing. The lender’s

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First Published: Jul 28 2022 | 11:21 PM IST

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