PNB Q2 net profit up 12% to Rs 1,205 cr

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PNB Q2 net profit up 12% to Rs 1,205 cr

Punjab National Bank (PNB), country's second largest PSU bank by market cap, has reported a net profit of Rs 1,205 crore in the second quarter of FY12, a growth of 12.15% as compared to Rs 1,074.5 crore in the corresponding quarter of last fiscal.

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Punjab National Bank (PNB), country's second largest PSU bank by market cap, has reported a net profit of Rs 1,205 crore in the second quarter of FY12, a growth of 12.15% as compared to Rs 1,074.5 crore in the corresponding quarter of last fiscal.

Net interest income jumped 16% to Rs 3,453 crore from Rs 2,976 crore during the same period.

Numbers were way above expectations. CNBC-TV18 poll saw net interest income of Rs 3,205 crore and net profit of Rs 1,148 crore.

Gross non-performing assets (NPAs) increased at 2.05% as against 1.91% year-on-year. Gross NPAs stood at Rs 5,150 crore in the July-September quarter of FY12 as against Rs 4,025 crore in a year ago period.

Net NPAs too grew at 0.84% versus 0.69% during the same period.