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Business Standard
a day ago
- Business
- Business Standard
PNB Q1 net profit plunges 48% to ₹1,675 crore on higher tax outgo
The New Delhi-based state-owned Punjab National Bank (PNB) on Wednesday reported a 48 per cent fall in net profit for the first quarter of financial year 2025-26 to ₹1,675 crore from ₹3,252 crore a year earlier. The decline was mainly due to a sharp rise in tax expenses, which jumped to ₹5,083 crore from ₹2,017 crore a year earlier. While total income grew 15.7 per cent year-on-year to ₹37,231 crore and operating profit rose to ₹7,081 crore, the elevated tax outgo weighed heavily on the bottom line. 'The fall in net profit is mainly due to our transition to the new tax regime from the old one. The key benefit of switching to the new tax regime is the significant difference — nearly 10 per cent — between the old and new tax structures. With an operating profit of ₹7,000 crore, we expect to save around ₹700 crore from Q2FY26 onwards, which will directly boost our bottom line. So, this was the right time for us to migrate to the new tax regime,' said Ashok Chandra, managing director and chief executive officer, Punjab National Bank, during a press conference. The gross non-performing assets (GNPA) ratio improved by 120 basis points on a year-on-year basis to 3.78 per cent as on Q1FY26 from 4.98 per cent as on Q1FY25. The net non-performing assets (NNPA) ratio improved by 22 basis points year-on-year to 0.38 per cent as on June 2025 from 0.60 per cent as on June 2024. PNB has maintained healthy capital adequacy at 17.50 per cent under Basel-III norms, with CET-1 at 12.95 per cent. The public sector lender's CASA (current account savings account) deposits increased to ₹5,68,638 crore, recording a year-on-year growth of 3.6 per cent. CASA share of the bank stands at 36.99 per cent as on Q1FY26. Total retail credit increased by 11.8 per cent year-on-year to ₹2,62,219 crore in Q1FY26. The bank's housing loan book grew by 16.6 per cent year-on-year to ₹1,18,708 crore, vehicle loans posted a growth of 25.3 per cent to reach ₹27,229 crore, and agriculture advances grew by 6.2 per cent year-on-year to ₹1,78,885 crore. As on June 30, 2025, PNB has 10,209 domestic branches and 2 international branches. The bank also has 11,240 ATMs and 31,763 business correspondents as part of its distribution network.
Mint
a day ago
- Business
- Mint
PNB Q1 Results: Net profit slumps 49% YoY to ₹1,675 crore on higher tax expenses; asset quality improves
PNB Q1FY26 Results: Public sector bank Punjab National Bank (PNB), today announced its financial performance for the June ending quarter, reporting a net profit of ₹ 1,675 crore, a 49% drop from ₹ 3,251 crore in the same quarter last fiscal and ₹ 4,567 crore in the previous quarter. The decline was primarily due to a sharp rise in tax expenses, which jumped to ₹ 5,083 crore from ₹ 2,017 crore a year earlier. While total income grew 15.7% YoY to ₹ 37,231 crore and operating profit rose to ₹ 7,081 crore, the elevated tax outgo weighed heavily on the bottom line. The net interest income (NII), difference between interest earned and expended, rose 1% YoY to ₹ 10,578 crore from ₹ 10,468 crore in the same period a year-ago and the net interest margin stands at 2.84%. On the asset quality front, PNB showed significant improvement. Gross Non-Performing Assets (NPAs) dropped to ₹ 42,673 crore, with the Gross NPA ratio improving to 3.78% from 4.98% in the same quarter last year. Net NPAs also declined to ₹ 4,132 crore, bringing the Net NPA ratio down to 0.38% from 0.60% a year ago. The provisions of the bank came down to ₹ 396 crore from ₹ 792 crore reported in the same quarter of last fiscal year. Meanwhile, the bank maintained healthy capital adequacy at 17.50% under Basel-III norms, with CET-1 at 12.95%. The overall performance indicates that while tax outgo weighed on profitability, improving asset quality and stable margins provide a positive outlook for future quarters. The bank's shares closed today's session with a mild loss of 1% at ₹ 108 apiece. However, they have recovered 24% from their February lows after reversing earlier losses in recent months. The stock has ended the last four months in the green but still trades at a 24% discount from its recent peak of Rs143, recorded in April 2024.
Business Standard
15-07-2025
- Business
- Business Standard
Bank of Maharashtra gains after Q1 PAT rises 23% YoY; clocks NIM of 3.95%
Bank of Maharashtra rose 1.66% to Rs 56.99 after the bank reported 23% increase in net profit to Rs 1,593 crore on a 16% rise in total income to Rs 7,879 crore in Q1 FY26 as compared with Q1 FY25. Net Interest Income (NII) grew by 17.60% on YoY basis to Rs 3,292 crore in Q1 FY26 as against Rs 2,799 crore for Q1 FY25. Net interest margin (NIM) stood at 3.95% as on 30 June 2025. Operating profit of the bank for the June25 quarter was Rs 2,570 crore, up 12% YoY. Provision & contingencies other than taxes declined by 9% to Rs 867 crore in Q1 FY26 from Rs 951 crore in Q1 FY25. Profit before tax in Q1 FY26 stood at Rs 1,703 crore, up by 27% from Rs 1,343 crore in Q1 FY25. Gross NPA improved to 1.74% as on 30 June 2025 against 1.85% as on 30 June 2024. The same was at 1.74% as on 31 March 2025. Net NPA improved to 0.18% as on 30 June 2025 against 0.20% as on 30 June 2024 and 0.18% as on 31 March 2025. Provision coverage ratio stood at 98.36% as on 30 June 2025. Gross advances grew by 15.34% on YoY basis to Rs 241,097 crore in Q1 FY26 as against Rs 209,031 crore in Q1 FY25. Deposits jumped 14.07% YoY to Rs 267,416 crore in Q1 FY26. Total Basel-III capital adequacy ratio improved to 20.06% with common equity tier-1 ratio of 15.62 % for Q1 FY26. Bank of Maharashtra is engaged in providing banking services. The bank's segments include treasury, corporate/wholesale banking, retail banking, and other banking operations. The Government of India held a 79.60% stake in the bank as of 30 June 2025.
Business Upturn
07-05-2025
- Business
- Business Upturn
Punjab National Bank Q4 results: Net profit jumps 52% YoY to Rs 4,567 crore; asset quality improves sharply
Punjab National Bank (PNB) reported a 52% year-on-year (YoY) jump in standalone net profit for Q4 FY25 at ₹4,567 crore, compared to ₹3,010 crore in the same quarter last year. The robust growth was driven by a significant rise in interest income and a sharp improvement in asset quality. Net Interest Income (NII) — the difference between interest earned and interest expended — rose to ₹10,756 crore from ₹10,363 crore YoY, reflecting 3.8% YoY consistent lending momentum and improved spreads. Total income for the quarter rose to ₹36,705 crore from ₹32,361 crore YoY, while interest earned increased to ₹31,990 crore from ₹28,114 crore. Provisions (excluding tax) declined to ₹359 crore from ₹1,588 crore in Q4 FY24, which further supported profitability. The bank's operating profit before provisions and contingencies came in at ₹6,776 crore. Tax expenses stood at ₹1,849 crore for the quarter. On the asset quality front, PNB posted marked improvement. Gross Non-Performing Assets (GNPA) stood at ₹44,081 crore with a GNPA ratio of 3.95%, improving from ₹56,343 crore and 5.73% in Q4 FY24. Net NPAs dropped to ₹4,291 crore, with the NNPA ratio at 0.40% compared to 0.73% a year earlier. Key highlights: Net profit: ₹4,567 crore vs ₹3,010 crore (⬆️ 52% YoY) Total income: ₹36,705 crore vs ₹32,361 crore (⬆️ 13.4% YoY) Gross NPAs: ₹44,081 crore vs ₹56,343 crore GNPA ratio: 3.95% vs 5.73% Net NPAs: ₹4,291 crore vs ₹6,798 crore NNPA ratio: 0.40% vs 0.73% EPS: ₹3.97 vs ₹2.73 Capital adequacy ratio (Basel-III): 17.01% vs 15.97% Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
