PNB Q1 net profit up 2.4% at Rs 1,275 cr

State-owned Punjab National Bank (PNB) today posted 2.4% rise in net profit to Rs 1,275.32 crore for the first quarter ended June 30, 2013.

 

The bank had a net profit of Rs 1,245.67 crore during April-June quarter of the previous fiscal, PNB said in a regulatory filing to the stock exchanges.

 

Total income during the April-June quarter of the current fiscal increased to Rs 11,746.59 crore from Rs 11,721.97 crore in the year-ago period.

 

However, gross non performing assets (NPA)has gone up from 3.34% in the year-ago period to 4.84% at the end of three months period ended June 30, 2013.

 

Shares of PNB were trading down by 5.94% at Rs 591 apiece on the BSE in the afternoon trade.