New Delhi: Punjab National Bank (PNB) Tuesday, reported a standalone loss of Rs 492 crore for the quarter ended December 31 down from a profit of Rs 246 crore in the same period last year.
Shares of State-run Punjab National Bank (PNB) Tuesday fell 1.66 per cent as the lender reported a standalone loss of Rs 492 crore for the quarter ended December 31 down from a profit of Rs 246 crore in the same period last year. Meanwhile the consolidated loss of Rs 384 crore reported by the bank. PNB was expected to report a profit after recoveries made from NCLT cases. PNB reported a loss of Rs 383 crore from ‘ordinary activities before tax’. The public sector bank said provisions for the quarter jumped 73.25 per cent year-on-year to Rs 4,445.36 crore from Rs 2,565.77 crore.
Shares of PNB plunged after opening at Rs 57.90 to trade at Rs 56.40. PNB earned a total of Rs 15,967.49 crore as income during the quarter a jump from Rs 14,854.24 crore reported during the same period last year.
