PNB Q3 net up 16% to Rs 430cr; payout at 40%

Punjab National Bank (PNB) has posted a 16% increase in net profit to Rs 429.87 crore for the quarter ended December 31, 2006 (Q3FY07) when compared with Rs 370.44 crore for Q3FY06.

According to an official release issued by the company to the BSE, total income has increased from Rs 2697.58 crore for the quarter ended December 31, 2005 to Rs 3271.36 crore for the quarter ended December 31, 2006.

The board of the bank has declared an interim dividend of 40% i.e. Rs 4 per share for the FY07.