Punjab National Bank Q1 net rises marginally

Punjab National Bank today reported a maringal rise in Q1 net profit for the quarter ended June 2006 at Rs 367.52 crore when compared with Rs 358.16 crore in the corresponding quarter a year ago.

According to a release issued by the bank to the BSE today, the Q1FY07 total income increased 14.9% to Rs 2,921.80 crore from Rs 2,542.78 crore in Q1FY06.

Further the bank has declared a final dividend of 60%, ie a payout of Rs 6 per for last fiscal year. This is over and above the 30% interim dividend delcared in December 2005.