PNB’s YoY Q1FY21 net profit up 232%

State-run Punjab National Bank on Monday reported a year-on-year rise of 232.1 per cent in its net profit for Q1FY21.

The lender’s net profit rose to Rs 1,023 crore in Q1FY22 from Rs 308 crore, during the like period of the previous fiscal.

Besides, its net interest income grew by 6.6 per cent, on a YoY basis, to Rs 7,227 crore in Q1FY22.

In addition, Gross Non Performing Assets (GNPA) stood at Rs 1,04,076 crore as on June 2021 as against Rs 1,01,849 crore in the like period of last year.

“‘Net Non Performing Assets’ (NNPA) stood at Rs 38,581 crore as on June 2021 as against Rs 35,303 crore in June’20.”

“Provision Coverage Ratio (PCR) excluding TWO stood at 62.93 per cent in June’2021 against 65.34 per cent in June’2020.”