PNB Q3: Misses Street estimates by a wide margin, net loss at Rs 492.3 crore
Punjab National Bank on February 4 reported a standalone net loss of Rs 492.3 crore for Q3FY20 against a profit of Rs 246.50 crore in Q3FY19.The public-sector lender missed Street estimates by a wide margin. A CNBC-TV18 poll has estimated a profit of Rs 967.7 crore.
Net interest income came at Rs 4,355 crore against the CNBC-TV18 poll of Rs 4,684.2 crore.Total revenue, however, climbed 7.49 percent year-on-year to Rs 15,967.49 crore against Rs 14,854.23 crore in Q3FY19.
The bank’s total assets stood at Rs 8,20,779.98 crore in Q3FY20 against Rs 7,47,806.10 crore in Q3FY19.
Provisions stood at Rs 4,146 crore against Rs 2,929 crore QoQ and against Rs 2,754 crore YoY.
Gross NPA came at Rs 76,809 against Rs 77,733.33 crore YoY, while net NPA stood at Rs 30,518.92 crore against Rs 35,675.12 crore YoY.
The percentage of gross NPAs stood at 16.30 percent against 16.33 percent YoY and 16.76 percent QoQ.On the other hand, the percentage of net NPAs stood at 7.18 percent against 8.22 percent YoY and 7.65 percent QoQ.