PNB Q4 results: Net profit grows nearly 6x to Rs 1,159 crore but misses analysts' estimates

PNB Q4 results: Punjab National Bank (PNB) – India’s fourth largest public sector lender in terms of market value – on Friday reported a net profit of Rs 1,158.6 crore for the quarter ended March 2023, marking growth of 5.7 times compared with the corresponding period a year ago. The quarterly net profit, however, fell short of analysts' estimates. 

PNB's net interest income (NII) – or the difference between interest earned and interest paid – increased 30 per cent on a year-on-year basis to Rs 9,498.8 crore, according to a regulatory filing.

According to Zee Business research, PNB's quarterly net profit was estimated at Rs 1,800 crore and revenue at Rs 9,400 crore.  

The state-run bank's gross bad loans – measured as a percentage of non-performing assets (NPAs) in total loans – narrowed to 8.74 per cent for the three-month period from 9.76 per cent for the previous quarter, according to a regulatory filing.

Its net NPAs contracted to 2.72 per cent from 3.30 per cent. 

PNB shares held on to the green after the earnings announcement, finishing the day with a gain of 1.6 per cent to Rs 49.3 apiece on BSE.

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