PNB Shares Surge 6% on Record Quarterly Profit

New Delhi, Jul 29 (PTI) Shares of Punjab National Bank surged nearly 6 per cent on Monday after the firm reported its highest-ever quarterly standalone profit at Rs 3,252 crore in April-June FY25, helped by a decline in bad loans and improvement in interest income.

The stock jumped 5.88 per cent to settle at Rs 126.95 apiece on the BSE. Intra-day, it rallied 7.42 per cent to Rs 128.80.

On the NSE, it climbed 5.81 per cent to Rs 126.92 per share.

In volume terms, 48.11 lakh shares of the firm were traded on the BSE and 1,441.05 lakh shares exchanged hands on the NSE during the day.

The state-owned bank, PNB, had posted a net profit of Rs 1,255 crore in the June quarter of FY24.

This is the highest-ever quarterly profit recorded by the bank on account of improvement in various parameters, including net interest income, recovery and CASA (Current Account and Savings Account), its Managing Director Atul Kumar Goel said.

Total income in the quarter rose to Rs 32,166 crore from Rs 28,579 crore in the same period a year ago.

The lender's interest income also increased to Rs 28,556 crore from Rs 25,145 crore in the same quarter a year ago, as per a regulatory filing on Saturday.

Net Interest Income (NII) increased to Rs 10,476 crore in Q1 FY25 from Rs 9,504 crore earlier, showing an improvement of 10.23 per cent.

Gross Non-Performing Assets (NPAs) declined to 4.98 per cent of gross advances by June 2024 from 7.73 per cent in the same quarter a year ago.

Similarly, net NPAs declined to 0.60 per cent from 1.98 per cent.