<p>State-owned Punjab National Bank (PNB) on Wednesday posted a four-fold surge in standalone net profit at Rs 1,255 crore in the April-June quarter, mainly due to decline in bad loans and improvement in interest income.</p>.<p>The bank had posted a net profit of Rs 308 crore in the year-ago period.</p>.<p>Total income in the first quarter of the current fiscal rose to Rs 28,579 crore as against Rs 21,294 crore, PNB said in a regulatory filing.</p>.<p>The lender's interest income also increased to Rs 25,145 crore from Rs 18,757 crore in the same quarter a year ago.</p>.<p>The gross Non Performing Assets (NPAs) declined to 7.73 per cent of the gross advances by June 2023 from 11.2 per cent a year ago.</p>.<p>The net NPA too declined to 1.98 per cent as against 4.26 per cent in the same period of the previous year.</p>.<p>As a result, provisions for bad loans came down to Rs 4,374 crore in April-June FY24 as against Rs 4,814 crore in the year-ago period.</p>.<p>On a consolidated basis, the bank reported a net profit of Rs 1,342 crore in the quarter ended in June as against Rs 282 crore a year ago.</p>.<p>The consolidated financial result of the bank comprises five subsidiaries and 15 associates.</p>.<p>The capital adequacy ratio of the bank improved to 15.54 per cent at the end of June compared to 14.62 per cent in the year-ago period.</p>
<p>State-owned Punjab National Bank (PNB) on Wednesday posted a four-fold surge in standalone net profit at Rs 1,255 crore in the April-June quarter, mainly due to decline in bad loans and improvement in interest income.</p>.<p>The bank had posted a net profit of Rs 308 crore in the year-ago period.</p>.<p>Total income in the first quarter of the current fiscal rose to Rs 28,579 crore as against Rs 21,294 crore, PNB said in a regulatory filing.</p>.<p>The lender's interest income also increased to Rs 25,145 crore from Rs 18,757 crore in the same quarter a year ago.</p>.<p>The gross Non Performing Assets (NPAs) declined to 7.73 per cent of the gross advances by June 2023 from 11.2 per cent a year ago.</p>.<p>The net NPA too declined to 1.98 per cent as against 4.26 per cent in the same period of the previous year.</p>.<p>As a result, provisions for bad loans came down to Rs 4,374 crore in April-June FY24 as against Rs 4,814 crore in the year-ago period.</p>.<p>On a consolidated basis, the bank reported a net profit of Rs 1,342 crore in the quarter ended in June as against Rs 282 crore a year ago.</p>.<p>The consolidated financial result of the bank comprises five subsidiaries and 15 associates.</p>.<p>The capital adequacy ratio of the bank improved to 15.54 per cent at the end of June compared to 14.62 per cent in the year-ago period.</p>