Quarterly Results: Punjab National Bank

Technical View: 

Punjab National Bank is currently trading at Rs. 138.6, up by 7 points or 5.32% from its earlier closing of Rs. 131.6 on the BSE.

The scrip has touched a high and low of Rs. 139.2 and Rs. 136.65 respectively, after opening at 138.6. By far 10335629(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.

Standalone Results Q2FY17: (Rs. in crore)


***NPA change is bps

Punjab National Bank’s Q2FY17 numbers have beaten street estimates. NII is 3.1% higher than the estimate of Rs 3765 Cr. Net Profit is 31.7% more than the estimate of 417 Cr.

The bank has posted a 10.2% drop in Q2FY17 net profit to Rs 3879.9 Cr.

PNB's interest income has marginally dropped 4% yoy due to lower loan growth and interest expense has dipped 1% yoy. This has triggered NII income of Rs 3,879.85 cr. Other income jumped 76% to Rs 2,387.9 cr in Q2FY17.

The bank's Gross NPA stands at 13.6% vs 6.4% (yoy). Asset quality thereby worsened by 720 bps yoy. However, the NPAs were lower than the psychological mark of 14%, which is positive for the bank. Provisions have climbed 9.2% in Q2FY17 to Rs 2,217 cr.

PNB's net profit has dipped 11.5% yoy to Rs 549.4 cr.