Punjab National Bank on Friday reported a surprise profit of Rs 1,018.63 crore for the quarter ended June 30 on big slump in provisions. The public sector lender had reported a loss of Rs 940 crore in the corresponding quarter last year. Analysts in an ET NOW poll projected a loss of Rs 350 crore. Provisions and contingencies declined sharply by 64.86 per cent on a yearly basis to Rs 2,023.31 crore over Rs 5,758.16 crore. The number declined 80 per cent sequentially.
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Punjab National Bank on Friday reported a surprise profit of Rs 1,018.63 crore for the quarter ended June 30 on big slump in provisions. The public sector lender had reported a loss of Rs 940 crore in the corresponding quarter last year. Analysts in an ET NOW poll projected a loss of Rs 350 crore. Provisions and contingencies declined sharply by 64.86 per cent on a yearly basis to Rs 2,023.31 crore over Rs 5,758.16 crore. The number declined 80 per cent sequentially.
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Axis Bank on Thursday reported net profit of Rs 1,505.06 crore for quarter ended March 31. The private lender had reported a loss of Rs 2,188.74 crore in the corresponding quarter last year.
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NEW DELHI: Punjab National BankNSE -3.74 % (PNB) on Tuesday reported a net profit of Rs 507.05 crore for the September quarter.The state-run lender had reported Rs 4,532.35 crore loss in the corresponding quarter last year.Net interest income (NII) for the quarter rose 7.2 per cent to Rs 4,262 crore from Rs 3,974 crore in the corresponding quarter last year
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Engineering and construction major Larsen & Toubro on Tuesday said consolidated profit after tax (PAT) rose 20.5 per cent to Rs 1,361 crore in the June quarter compared with Rs 1,129 crore in the same quarter last year.
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State-run Punjab National Bank (PNB) on Tuesday posted a loss of Rs 4,750 crore in the fourth quarter of the last fiscal ended March, against the net profit of Rs 13,417 crore in the same period a year ago, the bank said. PNB slipped back into losses during the quarter in consideration after coming back into the black in the previous quarter ending December.
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Mortgage lender HDFC Ltd on Monday reported a 24.3 per cent rise in consolidated net profit to Rs 4,196.48 crore for the third quarter ended December. It had posted a net profit (before adjustment for minority interest) of Rs 3,377.05 crore during the corresponding October-December period of 2018-19. Total income on consolidated basis rose to Rs 29,073.19 crore during the quarter as against Rs 24,653.15 crore in the year-ago period.
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Engineering and construction major Larsen & Toubro Friday posted a 37 percent growth in its net income at Rs 2,042 crore on a robust 24 percent uptick in revenue at Rs 35,709 crore for the three months to December. At Rs 11,476 crore, its international revenue constituted 32 percent of the overall revenue, it said, adding during the quarter it secured orders worth Rs 42,233 crore at the group level.
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Riding on lower provisioning and improved asset quality, state-run State Bank of India SBI) on Friday reported a net profit of Rs 2,312 crore during the first quarter ending June against a net loss of Rs 4,876 crore during same period of 2018-19. India's largest lender's April-June profit was 176 per cent higher sequentially over the net profit registered during the fourth quarter of the last fiscal. In the January-March quarter, the bank reported a net profit of Rs 838.40 crore.
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Punjab National Bank, India's second biggest lender, has been defrauded of Rs 11,300 crore. Billionaire diamantaire Nirav Modi whose stones adorn the rich and the famous across the globe is in the centre of the scam. How did it all happen? Watch here
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