PNB Q4 net rises 19% at Rs 1,424 cr

Total income has increased from Rs 8,586 crore in Q4FY11 to Rs 10,956 crore for the quarter under review

State-owned Punjab National Bank (PNB) today reported 18.58% rise in net profit at Rs 1,424.06 crore for the quarter ended March 31.

The bank had posted a net profit of Rs 1,200.9 crore in the same period last year, PNB said in a statement.

Total income of the lender increased to Rs 10,955.73 crore in the January-March quarter from Rs 8,585.65 crore in the same period last fiscal.

The Board of Directors of the bank has recommended an annual dividend of Rs 22 per equity share for FY'12, subject to declaration in the ensuing annual general meeting, it said.

PNB shares were trading at Rs 759.95 apiece, down 3.03% from the previous close on the BSE in the afternoon trade.