PNB's Q4 net profit rises to Rs 262 cr on higher net interest income

Bank registered a net loss of Rs 3,974.3 cr in the same quarter in FY16

Public sector lender Punjab National Bank(PNB) posted a net profit of Rs 261.9 crore in the fourth quarter tha ended on March this year, as against a net loss of Rs 5,367.1 crore in the same quarter in the previous financial year.

Profits accrued due to a sharp rise in the company's net interest income and a simultaneous fall in its provisions.

Its stock was trading 5 per cent up at Rs 175 per share on Bombay Stock Exchange.

In FY17, PNB posted a net profit of Rs 1,324.8 crore as against a net loss of Rs 3,974.3 crore in the previous year.

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