State-owned Punjab National Bank (PNB) on Friday returned to black as it posted a standalone net profit of Rs 1,018.63 crore in first quarter of this fiscal.

Bank had posted a net loss of Rs 940 crore during the corresponding April-June period of 2018-19.

In the last quarter of fiscal ended March 2019, the bank had registered a net loss of Rs 4,749.64 crore.

Total income rose to Rs 15,161.74 crore during the June quarter of 2019-20, as against Rs 15,072.41 crore in the same quarter of previous fiscal, the bank said in a regulatory filing.

On the assets front, bank's gross non-performing assets fell to 16.49% of gross advances at end of June 2019, as against 18.26% of gross advances at end of June 2018.

Net NPAs or bad loans were at 7.17% as against 10.58% year ago. The stocks of PNB were trading at Rs 67.75, higher by 2.57% over its previous close on BSE.