Indian Stock Market Tips|Punjab National Bank Q1 net loss at Rs 940 cr
State-run Punjab National Bank (PNB) on Tuesday reported a net loss of Rs 940.01 crore for the first quarter of 2018-19.
According to the lender, its Q1 net loss stood at Rs 940.01 crore from a net profit of Rs 343.40 crore reported for the corresponding period of the previous financial year.
The bank earned a total interest of Rs 13,113.17 crore, up 7.44 percent from Rs 12,136.36 crore earned during Q1 of 2017-18.
"Gross NPA (non-performing assets) ratio of the bank declined to 18.26 percent from 18.38 percent of the March'18 level. Bank was able to reduce the net NPA ratio at 10.58 percent in June 2018, below March 2018 level of 11.24 percent," the bank said in a statement.
"The provision coverage increased by 338 bps to 61.80 percent from 58.42 percent in March 2018."
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