PNB Q3 PAT up 16 per cent at Rs 429.87 crore

By Staff
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Google Oneindia News

New Delhi, Jan 31: Punjab National Bank today posted a 16 per cent hike in its net profit at Rs 429.87 crore during the third quarter ended December 2006, as against Rs 370.44 crore during the corresponding period last year.

For the nine months ending December 2006, the net profit rose 13 per cent to Rs 1,302.38 crore as compared to Rs 1,150.64 crore during the same period, a year ago.

This figure came after providing the neccessary provisions of Rs 1,046 crore towards income tax, wealth tax, NPAs, standard assets and depriciation. The provisions for the previous year was Rs 732 crore, Bank's Chairman and managing Director S C Gupta told reporters here.

The bank's total income also rose to Rs 3,271 crore in the said quarter, 21 per cent up from Rs 2,698 crore during the corresponding period last year.

Total expenses (excluding provisions) for the third quarter were Rs 2,315 crore, eight per cent higher year-on-year.

UNI

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