PNB Q1 profit halves to Rs 721 cr, asset quality improves

Public sector lender Punjab National Bank (PNB) missed street expectations on Tuesday with the first quarter net profit falling 48.7 percent year-on-year to Rs 721 crore but its asset quality improved sequentially. 
The flat operating profit and higher provisions impacted bottomline during the quarter. Net interest income, the difference between interest earned and interest expended, slipped by 6.3 percent to Rs 4,102 crore from Rs 4,380 crore during the same period.


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