PNB Stock Surges 7% As Q1 PAT Increases 159%
The net interest income (NII) also grows by 10.23 per cent YoY to Rs 10,476 Crore, up from Rs 9,504 Crore in Q1 FY 2024
Stock of Punjab National Bank (PNB) surged over 7 per cent in the Monday trading session after the public lender’s net profit surged by 159 per cent year-on-year (YoY), reaching Rs 3,252 crore for Q1 FY 2025 compared to Rs 1,255 crore in the same period last year.
PNB stock traded at Rs 128 with 7.04 per cent gain in the morning session on the National Stock Exchange (NSE).
The return on assets (RoA) improved markedly to 0.82 per cent from 0.34 per cent, while the Return on Equity (RoE) saw a notable rise to 16.82 per cent from 7.50 per cent a year earlier.
The net interest income (NII) also grew by 10.23 per cent YoY to Rs 10,476 Crore, up from Rs 9,504 Crore in Q1 FY 2024.
The gross non-performing assets (GNPA) ratio decreased by 275 basis points to 4.98 per cent as of June 2024, down from 7.73 per cent in June 2023.
Similarly, the net non-performing assets (NNPA) ratio improved by 138 basis points to 0.60 per cent from 1.98 per cent a year ago.
PNB reported a 10.27 per cent YoY increase in operating profit, which stood at Rs 6,581 Crore for Q1 FY 2025, compared to Rs 5,968 Crore in Q1 FY 2024.
The bank's global business grew by 10.03 per cent Y-o-Y to Rs 24,36,929 Crore from Rs 22,14,741 Crore.
CASA Deposits grew by 3.4 per cent to Rs 5,49,079 Crore, maintaining a CASA share of 40.08 per cent, while PNB's capital adequacy ratio (CRAR) improved to 15.79 per cent from 15.54 per cent a year ago.
