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PNB shares up 4.5% on Q4 profit; mcap rises by Rs 1,617 crore

Shares of Punjab National Bank on Tuesday rose by 4.5 percent after the company reported a net profit of Rs 261.9 crore for the three months to March 2017.  



New Delhi: Shares of Punjab National Bank on Tuesday rose by 4.5 percent after the company reported a net profit of Rs 261.9 crore for the three months to March 2017.

The stock gained 4.55 percent to close at Rs 174.55 on BSE. During the day, it surged 6.58 percent to Rs 177.95.

On NSE, shares of the company went up by 4.4 percent to end at Rs 174.15.

The company's market valuation also rose by Rs 1,617.69 crore to Rs 37,143.69 crore.

In terms of volume, 58.89 lakh shares of the company were traded on BSE and over 5 crore shares changed hands on NSE during the day.

Standalone net loss was Rs 5,367.1 crore in the same quarter of the previous fiscal, the bank said in a BSE filing.

Total income increased to Rs 14,989.33 crore in the quarter, from Rs 12,669.21 crore in the same period last year.

Gross non-performing assets (NPAs) as a percentage of gross advances dipped to 12.53 percent in the quarter ended March, from the earlier 12.9 percent.

Net NPAs too fell to 7.81 percent in the March quarter, from 8.61 percent a year ago.

From Zee News

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