Q3 Earnings India Results: This comes after banking and IT shares tanked on Indian equity markets at the backdrop of Tech Mahindra, which saw consolidated profits decline by 61 per cent to Rs 510.4 crores.
Public sector lender Punjab National Bank (PNB) today reported a 327 per cent jump in net profit to Rs 1,756.13 crore in the September quarter - the highest in the previous 14 quarters - on the back of higher interest income and improved credit quality.
During the quarter, the net interest income (NII) grew by 17.6 percent to Rs 9,179 crore while operating profit increased by 12.6 percent to Rs 5,716 crore on a YoY basis, PNB managing director Atul Kumar Goel said.
PNB share price today: PNB stock fell 5.86 percent to Rs 40.10 against the previous close of Rs 42.60 on BSE. Earlier, the stock rose 2.35 per cent to Rs 43.6 before the earnings were announced.
Punjab National Bank (PNB) share was trading lower ahead of its Q4 and fiscal year earnings set to be announced today. PNB share fell 1.37% to Rs 43.20 against previous close of Rs 43.75 on BSE.