PNB reports net profit of Rs 507 crore in Q2; finances under stress

Provisioning related to bad loans went up to Rs 3,253 crore in Q2, up from Rs 2,147 crore in the previous quarter

Though Punjab National Bank (PNB) posted a rise in profit before tax (PBT) of Rs 633 crore in the September quarter (Q2), its finances showed signs of stress,  when it is going to acquire two public sector banks from the next financial year.
 
In terms of profitability, PNB was in a better position than the same quarter in the last fiscal. Its net profit stood at Rs 507 crore in Q2, compared to a net loss of Rs 4,532 crore in the same quarter last fiscal year. In Q1, the bank’s net profit stood at Rs 1,019 crore. PNB’s