The public sector bank reported a net profit of Rs 586.33 crore in Q4 FY21 as against a net loss of Rs 697.20 crore in Q4 FY20.
The bank's total income increased by 37.5% to Rs 22,531.73 crore in Q4 FY21 over Q4 FY20. The bank's operating profit (before provisions & contingencies) surged 43.3% to Rs 5,634.31 crore in Q4 FY21 over Q4 FY20.The public sector bank posted a profit before tax of Rs 948.27 crore in Q4 FY21 compared with pre tax loss of Rs 969.03 crore in Q4 FY20.
The bank's provisions & contingencies for Q4 FY21 stood at Rs 4,686.04 crore, declining 4.4% from Rs 4,901.31 crore in Q4 FY20. The bank's provision coverage ratio stood at 80.14% as of 31 March 2021 compared to 77.79% in previous year.
On the asset quality side, gross non-performing assets (NPAs) stood at Rs 104,423.42 crore as on 31 March 2021 as against Rs 94,479.33 crore as on 31 December 2020 and Rs 73,478.76 crore as on 31 March 2020.
The gross NPA ratio stood at 14.12% as on 31 March 2021, compared to 12.99% on 31 December 2020 and 14.21% as of 31 March 2020. The net NPA ratio stood at 5.73% as on 31 March 2021 from 4.03% as on 31 December 2020 and 5.78% as on 31 March 2020.
The PSU Bank posted a net profit of Rs 2,021.62 crore for the year ended March 2021 (FY21) compared with net profit of Rs 336.20 crore in the year ended March 2020 (FY20). Total income jumped 48.3% to Rs 93,561.62 crore in FY21 over FY20.
Punjab National Bank (PNB) is a public sector bank. The Government of India held 76.87% stake in the bank as on 31 March 2021.
Shares of PNB fell 1.49% to Rs 43.10 on Friday.
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