PNB Q2 net up 13.81 per cent at Rs 575.34 crore

State-owned Punjab National Bank (PNB) today reported 13.81 per cent increase in net profit at Rs 575.34 crore for the second quarter of 2014-15.

In the year-ago period, the bank had reported a net profit of Rs 505.49 crore, PNB said in a BSE filing.

The bank's total income increased to Rs 13,020.46 crore during the second quarter ended September 30, 2014, up 11.92 per cent from Rs 11,632.84 crore in the same period last year.

The bank's asset quality deteriorated marginally with gross Non Performing Assets (NPAs) climbing to 5.65 per cent in the quarter under review from 5.48 per cent in April-June quarter.
 

Besides, net NPAs moved up to 3.26 per cent during the quarter from 3.02 per cent in the earlier three months.

Shares of PNB were at Rs 929 apiece, down 2.86 per cent from its previous close on the BSE.