Punjab National Bank Declares Q4 Results Company Gain 66 Percent Down
PNB Q4 Results: Public sector Punjab National Bank has suffered heavy losses in the fourth quarter. The company’s standalone net profit declined by 66 per cent to Rs 202 crore in the fourth quarter of the last financial year ended March 2022. While the bank’s non-performing assets (NPAs) declined during the quarter, its profits declined due to higher provisions.
Last year had a net profit of Rs 586 crore
Let us tell you that in the same quarter of the previous financial year, the bank had earned a net profit of Rs 586 crore. In a communication to the stock exchanges, the bank said on Wednesday that its total standalone income stood at Rs 21,095 crore during the quarter, as against Rs 21,386 crore in the year-ago period.
Decline in NPAs
The bank’s standalone net profit rose to Rs 3,456.96 crore for the full financial year 2021-22 from Rs 2,021.62 crore in 2020-21. The bank’s gross non-performing assets declined to 11.78 per cent as of March 2022, from 14.12 per cent a year ago.
How much dividend will the shareholders get
The net NPA of the bank also came down from 5.73 per cent to 4.8 per cent. The bank’s provision for bad loans and contingencies increased from Rs 3,540.32 crore to Rs 4,851.47 crore in the fourth quarter. The board of directors of the bank has recommended a dividend of 64 paise per share on the face value of Rs 2 for 2021-22.
continuous fall in stock
Talking about the share price of the company, after today’s trading, the share of PNB fell 0.45 percent and closed at the level of Rs 33.15. At the same time, in the last one month, the company’s stock has seen a fall of 9.80 percent i.e. Rs 3.60. Apart from this, in the last 6 months, the company’s stock has slipped close to 20 percent.