Punjab National Bank Q2 profit rises, beats estimates
India`s state-run Punjab National Bank, the country`s fourth-biggest lender by assets, reported a 2 percent rise in second-quarter profit, beating forecasts.
Net profit rose to 5.61 billion rupees ($86.87 million) for the quarter ended Sept 30 from 5.49 billion rupees a year earlier, the state-run bank said on Friday. (http://bit.ly/2h9nRzR)
Analysts on average had expected a net profit of 4.33 billion rupees, according to Thomson Reuters data.
Gross bad loans as a percentage of total loans stood at 13.31 percent at end-September compared with 13.66 percent at end-June quarter and 13.63 percent a year earlier.($1 = 64.5800 rupees)
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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