PNB Q2 profit marginally up at Rs 561 crore

PNB Q2 profit marginally up at Rs 561 crore
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New Delhi: Punjab National Bank on Friday reported a modest rise of 2.2 per cent in net profit to Rs 561 crore for the second quarter of the current fiscal.

The state-owned bank had registered net profit of Rs 549 crore in the July-September quarter of last fiscal, 2016-17.

Its total income during the September quarter of 2017-18 was up at Rs 14,205.31 crore as against Rs 13,638.64 crore in the year-ago period.

Operating profit of the bank grew by 20 per cent to Rs 3,279 crore during the quarter under review from Rs 2,732 crore in same period a year ago.

Bank’s gross non performing assets stood at 13.31 per cent of gross advances at the end of September quarter 2017-18 and net NPAs were 8.44 per cent of net advances.

The PNB stock was trading at Rs 201, up 1.88 per cent on BSE in the afternoon.

PTI