PNB Q4 profit jumps over 5-fold to Rs 1,159 cr

New Delhi: Punjab National Bank (PNB) on Friday reported over five-fold jump in its net profit to Rs 1,159 crore for the March 2023 quarter, helped by lower bad loans and a rise in interest income.

The state-owned bank had earned a standalone net profit of Rs 202 crore in the year-ago period. During the quarter, the bank's total income increased to Rs 27,269 crore from Rs 21,095 crore a year ago, PNB said in a regulatory filing. Interest income grew to Rs 23,849 crore during the period under review against Rs 18,645 crore in the year-ago period.