Punjab National Bank posts 306% rise in Q3 net profit; bad loans up marginally

Punjab National Bank on Tuesday missed the estimates of its financial result for the quarter ended on December 31. The bank reported a net profit of Rs 207.1 crore, a jump of 306% as against Rs 51 crore during the same period last year. 

The amount of gross Non-performing assets (NPAs) stood at Rs 55627.51 crore as on December 31, 2016 as against Rs 34338.22 crore during December 31,2015. The percent of Gross NPAs in Q3FY17 stood at 13.70% as against 8.47% in Q3FY16 and 13.63% in Q2FY17. 

The Net NPAs stood at Rs 34993.53 crore as on December 31, 2016 as compared to Rs 22983.40 crore on December 31,2017. The percent of Net NPAs in Q3FY17 stood at 9.09% as compared to 9.10% on Q2FY17 and 5.86% on Q3FY16. 

The total income increased to Rs 14497.6 crore in Q3FY17 from Rs 13891.2 crore in Q3FY16. 

At 1225 hours the shares of the company were trading at Rs 152.45 per piece, up 1.87% or Rs 2.80 on BSE.