Home > Companies > Company Results > PNB reports 492 crore loss for Q3 on higher provisioning for NPAs
PNB stock was trading at  ₹58.70 on the BSE.
PNB stock was trading at 58.70 on the BSE.

PNB reports 492 crore loss for Q3 on higher provisioning for NPAs

  • PNB had posted a net profit of 246.51 crore for the same period a year ago
  • In the previous September quarter, the bank had a profit of 507.05 crore

New Delhi: Punjab National Bank (PNB) on Tuesday reported a standalone net loss of 492.28 crore for December quarter 2019-20 due to substantial increase in bad loan provisioning.

The bank had posted a net profit of 246.51 crore for the same period a year ago. In the previous September quarter, the bank had a profit of 507.05 crore.

Total income during the quarter under review was at 15,967.49 crore as against 14,854.24 crore in the year-ago same period, PNB said in a regulatory filing.

The bank made a provisioning of 4,445.36 crore for bad loans during the quarter under review. This was up from 2,565.77 crore parked aside for the year-ago period.

On consolidated basis, the lender reported a net loss of 501.93 crore during the quarter under review.

There was a net profit of 249.75 crore in the same period a year ago, the bank said.

Income was at 16,211.24 crore, up from 15,104.94 crore earlier.

Gross non-performing assets (NPAs) of the bank stood at 16.30 per cent of gross advances as at December-end 2019, down from 16.33 per cent by the year-ago same period.

Net NPAs or bad loans were at 7.18 per cent, down from 8.22 per cent by December 2018.

PNB stock was trading at 58.70 on the BSE, up 2.35 per cent.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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