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PNB reports strong Q3 FY25 results, net profit doubles
State-owned Punjab National Bank (PNB) on Friday posted impressive results for the quarter ending December 2024 (Q3 FY25) reporting a net profit of Rs 4,508.21 crore, a 103 per cent increase from Rs 2,222.8 crore in the same quarter last year.
Mumbai: State-owned Punjab National Bank (PNB) on Friday posted impressive results for the quarter ending December 2024 (Q3 FY25) reporting a net profit of Rs 4,508.21 crore, a 103 per cent increase from Rs 2,222.8 crore in the same quarter last year.
On a sequential basis, profit grew by around 5 per cent from Rs 4,303 crore in the September quarter (Q2 FY25).
The net interest income (NII) rose by 7.2 per cent year-on-year (YoY) at Rs 11,033 crore, compared to Rs 10,293 crore in Q3 FY24, according to its stock exchange filing.
PNB’s total income jumped 16 per cent to Rs 34,751.7 crore from Rs 29,961.65 crore in the previous year. Quarter-on-quarter (QoQ), it saw a marginal increase of 1 per cent from Rs 34,447.10 crore in Q2FY25.
The gross non-performing assets (Gross NPA) reduced to Rs 45,413.98 crore from Rs 60,371.38 crore a year ago and Rs 47,582.25 crore in the previous quarter. The Gross NPA ratio declined to 4.09 per cent from 6.24 per cent in Q3FY24 and 4.48 per cent in the previous quarter.
However, the net NPA of the public bank fell to Rs 4,437.43 crore from Rs 4,674.24 crore in Q2 FY25 - significantly lower than a year ago. The net NPA ratio of the bank dropped to 0.41 per cent from 0.66 per cent QoQ and 0.96 per cent YoY.
Punjab National Bank’s operating profit stood at Rs 6,620 crore in Q3 which was a 4.6 per cent growth YoY.
The credit-deposit ratio of the bank improved to 69.95 per cent from 69.24 per cent YoY and 69.91 per cent in Q2FY25.
The bank reported a provision write-back of Rs 285 crore, compared to a provision of Rs 288 crore in Q2 FY25. Provisions against NPAs rose to Rs 317 crore in the third quarter from Rs 199 crore in the previous quarter.
