 PNB Q4 Results:Share Prices Fall 12%

PNB reported a 66 percent decline in standalone net profit at Rs 202 crore for the fourth quarter of financial year 2021-22

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PNB reported a net profit of Rs 586 crore in the corresponding quarter a year ago.

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The total standalone income during the January-March quarter stood at Rs 21,095 crore, down from Rs 21,386 crore in the corresponding period last year.

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For the entire fiscal 2021-22, the bank's standalone net profit rose to Rs 3,456.96 crore, compared to Rs 2,021.62 crore in FY21

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The asset quality of the lender improved, with the gross non-performing assets (GNPAs) dropping to 11.78 percent of the gross advances as of March 2022, from 14.12 percent a year ago.

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PNB's net non-performing assets (NPAs) or bad loans also declined to 4.8 percent from 5.73 percent.

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The lender kept a higher provision for bad loans and contingencies for the January-March quarter at Rs 4,851.47 crore, compared to Rs 3,540.32 crore earlier.

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