PNB net rises 7% to Rs538 cr

PNB net rises 7% to Rs538 cr


New Delhi: Public sector lender Punjab National Bank on 29 October posted a 6.63% rise in net profit at Rs538.48 crore for the quarter ended 30 September, against Rs504.99 crore for the same period last fiscal.

The total income of the bank stood at Rs3,930.89 crore for the second quarter of this fiscal, compared to Rs3,059.19 crore registered in the corresponding period of the previous fiscal, posting a rise of 28.49%, PNB said in a release issued here.

For the half year ended 30 September, the bank posted a net profit of Rs963.55 crore compared to Rs872.51 crore in first half of 2006-07, recording a year-on-year growth of 10.4%, the bank added.

Total income of PNB during the first six months grew by 29.2% to Rs7,228 crore, against Rs5,596 crore during the April-September 2006-07.