State-owned Punjab National Bank (PNB) today posted an 11.06 per cent increase in net profit at Rs 230.11 crore for the quarter ended on December 31, 2017.
The bank had reported a net profit of Rs 207.18 crore in the corresponding quarter last fiscal.
The public sector lender's total income increased by 8.02 per cent to Rs 15,257.50 crore for the quarter under review, from Rs 14,123.98 crore in the year-ago period.
Its gross non-performing assets (NPAs) or bad loans, as a percentage to total advances, came down to 12.11 per cent from 13.70 per cent in the same quarter of last fiscal.
Net NPAs also fell to 7.55 per cent from 9.09 per cent at the end of December 2015, the bank said.
Total provisions (other than tax) and contingencies made during the third quarter of 2017-18 jumped 74 per cent to Rs 4,466.68 crore against Rs 2,562.19 crore in the year-ago period.
Shares of PNB were trading 4.07 per cent lower at Rs 156.75 on BSE.
Disclaimer: No Business Standard Journalist was involved in creation of this content
