Punjab National Bank (PNB) missed analysts’ estimate, despite reporting over 11% year-on-year (YoY) rise in net profit during the quarter ended December 31, 2017 (Q3FY18) period. 
 
PNB registered a net profit of Rs 230.11 crore in Q3FY18, rising by 11.06% compared to Rs 207.18 crore in the corresponding period of the previous year. 
 
However, Q3FY18 net profit declined by a massive 58.95% from net profit of Rs 560.58 crore of the preceding quarter. 
 
A Bloomberg poll of experts predicted PNB's net profit at Rs 556 crore in Q3FY18. 
 
Meantime, net interest income (NII) came in at Rs 3,988.70 crore - which was up by 6.91% from Rs 3,730.80 crore in Q3FY17, but gradually lower by 0.65% as against Rs 4,015.18 crore in Q2FY18. 
 
Provisions & contingency of PNB amounted to Rs 4,466.68 crore,  witnessing increase by 74.33% from Rs 2,562.19 crore in Q3FY17, and up by 83% versus Rs 2,440.79 crore in Q2FY18. 
 
PNB's provision coverage ratio works out to 60.78% as of December 2017. 
 
On the other hand, PNB's gross NPAs were at Rs 57,519.41 crore - higher from NPA of Rs 55,627.51 crore in Q3FY17, but almost muted from Rs 57,630.11 crore in Q2FY18. 
 
In percentage terms, PNB's gross NPA was at 12.11% in Q3FY18 - lower from 13.70% in Q3FY17 and 13.31% in Q2FY18. 
 
In its financial audit report, PNB also highlighted that the bank  is required to make additional provision of Rs 1,112 crores by end of March 2018, in respect of accounts under provisions of Insolvency & Bankruptcy Code (IBC). 
 
PNB has already  provided additional provision of Rs 854 crores upto December 2017 and the balance will be provided by end of FY18. 
 
It may be noted that this additional provision of accounts in IBC was of the Reserve Bank of India's first list of defaulters. 
 
For the second list of accounts under IBC, PNB mentioned that it was meant to give additional provision of Rs 875 Crores by end of March 2018. However, the bank has made provision of just Rs 75 crore till December 2017. 
 
In its meeting held on Tuesday, PNB's board of directors accorded approval for capital infusion by Govt of India upto Rs 5,473 crore. 
 
Share price of PNB was trading at Rs 158.70 per piece on the BSE, down by 2.88% at around 1313 hours.