Punjab National Bank first-quarter profit rises, but misses estimates
Punjab National Bank
Net profit rose to 3.43 billion rupees ($53.51 million) for its fiscal first quarter ended June 30, from 3.06 billion rupees a year earlier, the New Delhi-based bank said on Wednesday. http://bit.ly/2u2QV19
Analysts on average had expected a net profit of 4.04 billion rupees, according to Thomson Reuters data.
Provisions for non-performing assets fell nearly 19 percent from last year to 25.60 billion rupees.
Gross bad loans as a percentage of total loans rose to 13.66 percent at end-June from 12.53 percent at March end, but fell marginally from 13.75 percent at end-June 2016. ($1 = 64.0950 Indian rupees)
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.