Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Punjab National Bank Shares Drop by 5.8% After Q2 Results

The PNB shares closed the session at Rs 64.60, down 5.3%, after hitting an intra-day low of Rs 64.25.

Trending Desk

Updated:November 5, 2019, 4:28 PM IST
facebookTwitter Pocket whatsapp
Punjab National Bank Shares Drop by 5.8% After Q2 Results
Image for Representation.

Punjab National Bank (PNB) shares dropped by 5.8% in intra-day trade on Tuesday after the lender reported net profit at Rs 507.10 crore in the second quarter ended September (Q2) along with deterioration in asset quality.

The PNB shares closed the session at Rs 64.60, down 5.3%, after hitting an intra-day low of Rs 64.25. Notably, the stock has fallen nearly 25% in the past six months.

PNB’s Q2 net profit figure for the September quarter was better than expected, with an analysts’ poll conducted by CNBC-TV18 expecting the bank to report a loss of Rs 1,521.5 crore. PNB had reported a loss of Rs 4,532.35 crore in the year-ago period due to a spike in provisions.

Net interest income (NII) also increased 7.3% year-on-year to Rs 4,263.8 crore in the September quarter. Non-interest income jumped 32.5% to Rs 2,264.7 crore, too, pushing up pre-provision operating profit by 25.4% to Rs 3,562 crore compared to the year-ago quarter.

However, PNB’s asset quality deteriorated in the September quarter. Gross non-performing assets (NPA) as a percentage of gross advances rose 27 basis points sequentially to 16.76%, while net NPA climbed 48 basis points to 7.65%.

Provisions and contingencies for bad loans for the September quarter also jumped by a massive 48% to Rs 2,928.9 crore when compared with the previous quarter. However, they were down 70% compared with a year ago. Provision coverage ratio declined to 73.58% at the end of the September quarter compared with 74.6% at the end of June quarter.

Keywords:

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

facebookTwitter Pocket whatsapp
Most Active
Company Price Change %Gain
SBI Life Insura 946.05 -5.40
Bharti Airtel 432.75 5.76
Yes Bank 66.05 0.30
Glenmark 354.95 -2.90
Reliance 1,478.40 1.32
Company Price Change %Gain
SBI Life Insura 946.30 -5.33
Bharti Airtel 432.70 5.76
AAVAS Financier 1,668.40 1.60
Tech Mahindra 763.00 1.54
Yes Bank 66.05 0.23
Top Gainers
Company Price Change %Gain
Bharti Airtel 432.90 5.79
Bharti Infratel 239.45 5.58
Cipla 473.20 2.74
Tech Mahindra 762.95 1.48
Axis Bank 734.30 1.57
Company Price Change %Gain
Bharti Airtel 432.70 5.76
Axis Bank 733.95 1.51
Reliance 1,478.85 1.40
NTPC 118.10 0.55
Bajaj Finance 4,176.40 0.57
Top Losers
Company Price Change %Gain
Zee Entertain 287.20 -2.36
Vedanta 141.20 -1.53
TCS 2,121.60 -1.44
UPL 542.80 -1.13
M&M 567.90 -1.01
Company Price Change %Gain
Vedanta 141.30 -1.46
TCS 2,121.00 -1.43
HUL 2,035.10 -1.05
M&M 567.80 -0.93
Hero Motocorp 2,481.85 -0.80

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results