State-owned Punjab National Bank (PNB) on Wednesday reported standalone net profit of ₹201 crore for the March quarter, down 66% from ₹586 crore reported in the last year period.
On Wednesday, PNB shares closed 0.45% lower at ₹33.15 apiece on NSE.
The lender’s net interest income (NII) — difference between interest earned and interest expended — rose 5% to ₹7,305 crore for the quarter under review.
On the asset quality front, gross non-performing assets (NPAs) fell to 11.78%, compared with last year, while net NPAs stood at 4.80% during the fourth quarter.
The Bank’s Board has also recommended a dividend of ₹0.64 per equity share for the year 2021-22.