PNB Q2 net profit slips 63% to Rs 411.3 crore as NPA provisions rise

PNB's total income during July-September 2022 was Rs 23,001.3 crore as against Rs 21,262.3 crore a year ago

Punjab National Bank’s (PNB’s) standalone net profit plunged 62.8 per cent year-on-year (YoY) to Rs 411.3 crore in the July-September quarter (Q2) as provisions for non-performing assets (NPAs) went up by 32 per cent to Rs 3,556 crore. However, sequentially, net profit of the Delhi-based public lender jumped 33 per cent from Rs 308.4 crore reported in the April-June period.

PNB’s total income during the July-September period was Rs 23,001 crore against Rs 21,262.3 crore a year ago, the lender said in an exchange filing. Its interest income during the quarter was Rs 20,154 crore against Rs 17,980.4 crore reported