State-owned
Punjab National Bank (PNB) stock was under pressure on Monday after the lender announced its financial performance for the quarter ending March 2021 (Q4FY21) period. The bank posted a standalone net profit of Rs586cr in Q4FY21 rising against Rs506cr in the previous quarter. However, Q4 PAT contracted from Rs697cr in the same quarter a year ago.
PNB's net interest income, however, increased by 48.3% to Rs6,938cr in the quarter under review compared to Rs4,677cr a year ago same period.
The lender's gross NPA was 14.12% higher in Q4FY21 from 12.99% of the preceding quarter. However, the bank's net NPA was at 5.73% in the latest period.
At around 1.39 pm, PNB was performing at Rs42.35 per piece down by 1.7% on Sensex. The stock has touched an intraday high and low of Rs43.05 per piece and Rs41.85 per piece respectively on the same index.