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State-owned Punjab National Bank on Thursday reported 70% decline in net profit at Rs 308 crore for the quarter ending June 30, 2022. It reported net profit of Rs 1,023 crore in Q1FY22.
The lender’s asset quality improved during the June quarter with gross NPAs at 11.27% versus 11.78% in the preceding quarter and net NPAs at 4.28% as against 4.8% in Q4FY22.
On Thursday, the lender’s scrip on BSE closed trading 1.8% higher at Rs 32.60.
PNB’s total income fell 7% in Q1FY23 to Rs 21,294 crore as compared to Rs 22,816 crore in Q1FY22.
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