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PNB’s Q4 net down 52% to ₹338 crore

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Money & Banking

However, full year 2021-22 consolidated net up 51 %

Punjab National Bank (PNB), the country’s second largest public sector bank, on Wednesday reported a 52 per cent decline in consolidated net profit for the fourth quarter ended March 31, 2022 at ₹ 338 crore (₹ 701 crore).

The latest quarterly bottomline performance was lower than the consolidated net profit of ₹1,250 crore recorded in the previous December 2021 quarter. 

However, for the fiscal 2021-22, the consolidated net profit was up 51 per cent at ₹ 3861 crore (₹2,562 crore), showed PNB’s regulatory filing with the stock exchanges.

Total consolidated income for the quarter under review declined 1.3 per cent to ₹ 21351 crore (₹21,634 crore). For the entire fiscal 2021-22too, total consolidated revenue declined to ₹ 88340 crore as compared to ₹ 94170 crore in the previous fiscal.

On a standalone basis, PNB net profit for the quarter under review came in at ₹ 202 crore, much lower than net profit of ₹ 586 crore in the same quarter last fiscal. PNB had recorded a standalone net profit of ₹ 1127 crore in the December 2921 quarter.

Published on May 11, 2022

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