PNB Q3 results: Net profit at Rs 506 crore, NII at Rs 8,313 crore

The bank's gross non-performing assets (NPAs) reduced to 12.99 per cent for the quarter ended December 2020

State-owned Punjab National Bank on Friday reported a net profit of Rs 506 crore for the quarter ended December 31, 2020 (Q3FY21). Sequentially, the profit declined 18.5 per cent. The lender had posted a profit of Rs 621 crore in the previous quarter (Q2FY21), and a standalone loss of Rs 492.28 crore during the corresponding period last year (Q3FY20).

The Delhi-based lender's net interest income -- the difference between interest earned through lending and interest paid to depositors -- came in at Rs 8,313 crore for the period under review . The NII had been Rs 8,393 crore during the September quarter. It had been Rs 4,355 crore during the same period a year earlier (Q3FY20)

The bank’s gross non-performing assets (NPAs) reduced to 12.99 per cent for the December quarter of this financial year, compared with 13.43 per cent in the previous quarter. Meanwhile, its net non-performing assets (NPAs) stood at 4.03 per cent.

The total income of the lender came in at Rs 23,298 crore during the quarter, against Rs 15,967 crore in the same period a year earlier. Its total expenses in Q3FY21, meanwhile, stood at Rs 16,907 crore.